19 Jul 2013
EUR/GBP above 0.8600 support
FXstreet.com (London) - EUR/GBP is calmer around 0.8600 support.
Sterling has had a good week against the euro, starting with BoE showing Carneys is in control and has all the 9 MPC members on side. EUR/GBP has reached a high of 0.8710 but had dropped sharply to print as low as 0.8600 on upbeat data and BoE minutes. This is a touch higher than the May high, those levels combined are offering support ahead of the weekend in calmer markets.
EUR/GBP neutral
The pair is neutral for the time being and drifting within a tight range is likely. A break of either side of the trading range will open up new territories but moves will most likely be dollar-positioning dependent.
Sterling has had a good week against the euro, starting with BoE showing Carneys is in control and has all the 9 MPC members on side. EUR/GBP has reached a high of 0.8710 but had dropped sharply to print as low as 0.8600 on upbeat data and BoE minutes. This is a touch higher than the May high, those levels combined are offering support ahead of the weekend in calmer markets.
EUR/GBP neutral
The pair is neutral for the time being and drifting within a tight range is likely. A break of either side of the trading range will open up new territories but moves will most likely be dollar-positioning dependent.