16 Dec 2015
EUR/GBP eyes 0.7300 on UK data
FXStreet (Edinburgh) - The sterling keeps depreciating vs. its European peer today, sending EUR/GBP to test the upper-0.7200s.
EUR/GBP firmer on UK jobs
The European cross keeps the buoyant tone on Wednesday after the mixed results from the UK labour market, where the unemployment rate has ticked lower to 5.2% in the three months ended in October.
Further data showed Claimant Count Changed increasing by 3.9K during November, while Average Earning Including Bonus has expanded 2.4%, coming in short from previous estimates.
EUR/GBP levels to consider
As of writing the cross is up 0.26% at 0.7282 with the next resistance at 0.7300 (high Dec.4) followed by 0.7374 (76.4% Fibo of 0.7496-0.6979) and then 0.7496 (high Oct.13). On the flip side, a breach of 0.7204 (200-day sma) would expose 0.7176 (38.2% Fibo of 0.7496-0.6979) and then 0.7101 (23.6% Fibo of 0.7496-0.6979).
EUR/GBP firmer on UK jobs
The European cross keeps the buoyant tone on Wednesday after the mixed results from the UK labour market, where the unemployment rate has ticked lower to 5.2% in the three months ended in October.
Further data showed Claimant Count Changed increasing by 3.9K during November, while Average Earning Including Bonus has expanded 2.4%, coming in short from previous estimates.
EUR/GBP levels to consider
As of writing the cross is up 0.26% at 0.7282 with the next resistance at 0.7300 (high Dec.4) followed by 0.7374 (76.4% Fibo of 0.7496-0.6979) and then 0.7496 (high Oct.13). On the flip side, a breach of 0.7204 (200-day sma) would expose 0.7176 (38.2% Fibo of 0.7496-0.6979) and then 0.7101 (23.6% Fibo of 0.7496-0.6979).