28 Jun 2013
EUR/GBP creeping into 0.8580
FXstreet.com (London) - EUR/GBP has maintained a positive bias, backed up by bullish EZ data.
EUR/GBP has continued to test the upside although at a slow grinding pace and still shy of overnight highs. The pair benefited most recently from German CPI and the Harmonised Index of Consumer prices, both printing better than expectations and previous yoy’s. German CPI came as 1.8% vrs 1.5% previous and Harmonised Index came as 1.9% vrs 1.6% previous and 1.8% consensus.
EUR/GBP targets 0.8600
EUR/GBP has rebounded from Wednesdays lows 0.8470 and is now 100 pips higher. The pair is pushing towards the May highs. Next resistance after the figure comes as the April highs 0.8630/40 zone. Failure at 0.8470 is needed to re-target to the 0.8422 mid-May low and the 2012-13 support line at 0.8401.
EUR/GBP has continued to test the upside although at a slow grinding pace and still shy of overnight highs. The pair benefited most recently from German CPI and the Harmonised Index of Consumer prices, both printing better than expectations and previous yoy’s. German CPI came as 1.8% vrs 1.5% previous and Harmonised Index came as 1.9% vrs 1.6% previous and 1.8% consensus.
EUR/GBP targets 0.8600
EUR/GBP has rebounded from Wednesdays lows 0.8470 and is now 100 pips higher. The pair is pushing towards the May highs. Next resistance after the figure comes as the April highs 0.8630/40 zone. Failure at 0.8470 is needed to re-target to the 0.8422 mid-May low and the 2012-13 support line at 0.8401.