EUR/GBP: sterling taking back control on more upbeat data

EUR/GBP is trading at 0.8389, down -0.05% on the day, having posted a daily high at 0.8424 and low at 0.8373.

EUR/GBP has been sold off below the 0.84 handle from the aforementioned highs where spot was just shy of the 200 sma on the 1hr sticks. The price has otherwise been in a recovery of the lows down at 0.8341 in the downtrend from 0.8571.

Data wise, we had upbeat UK employment details earlier and a lower-than-expected rise in Claimant Counts (2.4K vs. 5.5K expected). There was also and better-than-expected average weekly earnings growth of 2.5%. The unemployment rate for three months to October remained unchanged at 4.8%.

EUR/GBP levels

Current price is 0.8389, with resistance ahead at 0.8389 (Weekly Low), 0.8393 (Daily Open), 0.8394 (Hourly 20 EMA), 0.8403 (Hourly 100 SMA) and 0.8413 (Yesterday's High). Next support to the downside can be found at 0.8382 (Daily Classic PP), 0.8378 (Monthly Low), 0.8373 (Daily Low), 0.8351 (Daily Classic S1) and 0.8340 (Yesterday's Low).