18 Aug 2015
EUR/GBP clings to 0.7100
FXStreet (Edinburgh) - EUR/GBP is trading in a tight range ahead of the European open on Tuesday, wobbling around the key 0.7100 handle.
EUR/GBP focus on UK data
The cross is netting an even session so far, looking to extend yesterday’s recovery after the drop from recent tops near 0.7170 posted last week. No scheduled releases in Euroland will leave the attention exclusively to the UK docket, where inflation figures will take centre stage.
Furthermore, market consensus expects core consumer prices in the British economy to have risen at an annual pace of 0.8% while headline prices are seen flat on a year to July.
EUR/GBP key levels
At the moment the cross is losing 0.02% at 0.7106 with the next support at 0.7072 (low Jul.28) followed by 0.7039 (low Aug.11) and then 0.7027 (low Jul.29). On the flip side, a breakout of 0.7117 (high Aug.11) would open the door to 0.7170 (high Aug.12) and finally 0.7202 (high Jul.13).
EUR/GBP focus on UK data
The cross is netting an even session so far, looking to extend yesterday’s recovery after the drop from recent tops near 0.7170 posted last week. No scheduled releases in Euroland will leave the attention exclusively to the UK docket, where inflation figures will take centre stage.
Furthermore, market consensus expects core consumer prices in the British economy to have risen at an annual pace of 0.8% while headline prices are seen flat on a year to July.
EUR/GBP key levels
At the moment the cross is losing 0.02% at 0.7106 with the next support at 0.7072 (low Jul.28) followed by 0.7039 (low Aug.11) and then 0.7027 (low Jul.29). On the flip side, a breakout of 0.7117 (high Aug.11) would open the door to 0.7170 (high Aug.12) and finally 0.7202 (high Jul.13).