0.855
Today
+0.04%
5 Days
-0.18%
1 Month
+0.72%
6 Months
-1.66%
Year to Date
-1.89%
1 Year
-0.96%
Opening Price
0.854Previous Closing Price
0.855Chris Turner at ING notes that a busier United Kingdom (UK) data calendar, including jobs, wages and July Consumer Price Index (CPI), could challenge the 55bp of Bank of England (BoE) tightening still priced in.
The Euro (EUR) holds minor gains against the British Pound (GBP) for the third consecutive day on Monday, favoured by European Central Bank (ECB) - Bank of England (BoE) monetary policy divergence.
EUR/GBP has traded in a tight range around the mid-0.8500s on Friday, little changed on the day. The latest Eurozone figures came in close to forecasts, and they did nothing to push the pair out of the range it has held all week.
EUR/GBP is little changed on Friday, extending the sideways pattern seen through most of the week as traders show a muted reaction to second-quarter Gross Domestic Product (GDP) data from both the Eurozone and the United Kingdom (UK). At the time of writing, the cross trades around 0.8543.
The Euro (EUR) is trading practically flat against the British Pound (GBP) on Friday, holding moderate gains after bouncing from three-week lows on Thursday. The EUR/GBP pair, however, is struggling to find significant acceptance above 0.8550, and remains on track for a 0.2% weekly loss.
EUR/GBP is trading sideways on Thursday near the 0.8540 level, with the Euro (EUR) steadying after three consecutive days of losses despite the Pound Sterling (GBP) gaining support from UK economic growth data that was broadly in line with expectations.
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The upside prevails as long as 0.8541 is support, with 0.8560 and 0.8565 as targets
below 0.8541, expect 0.8533 and 0.8528.
The upside prevails as long as 0.8541 is support, with 0.8560 and 0.8565 as targets
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