30 Jul 2013
EUR/GBP holds 0.8660
FXstreet.com (Barcelona) - EUR/GBP is drifting along after yet further EZ data.
EZ Consumer Confidence (Jul) arrived in line with expectations at -17.4 improving on -18.8 previous. EUR/GBP is continuing to move along the July support line, printing 0.8660 still. We also had seen Consumer Confidence in Germany earlier on and that came in at 7.0 (August), beating expectations at 6.9. The German CPI is the main attraction on the calendar for today at 12GMT. We have also started to see some easing in Sterling before the BoE later on in the week, and of course the ECB.
EUR/GBP eyes tough resistance
We have 0.8710/14 resistances up ahead, being the recent high and the 2008-2013 resistance line. This could be a tough resistance line to breach; however, a successful series of closes above there would bring the 0.8793/0.8814 highs seen earlier in the year into focus again.
EZ Consumer Confidence (Jul) arrived in line with expectations at -17.4 improving on -18.8 previous. EUR/GBP is continuing to move along the July support line, printing 0.8660 still. We also had seen Consumer Confidence in Germany earlier on and that came in at 7.0 (August), beating expectations at 6.9. The German CPI is the main attraction on the calendar for today at 12GMT. We have also started to see some easing in Sterling before the BoE later on in the week, and of course the ECB.
EUR/GBP eyes tough resistance
We have 0.8710/14 resistances up ahead, being the recent high and the 2008-2013 resistance line. This could be a tough resistance line to breach; however, a successful series of closes above there would bring the 0.8793/0.8814 highs seen earlier in the year into focus again.