EUR/GBP keeps highs near 0.8540 ahead of data

The persistent weakness around the sterling has pushed EUR/GBP to the area of daily highs well above the 0.8500 handle on Tuesday

EUR/GBP looks to UK data

The European cross is now extending its upside momentum for the second session in a row, retaking the 0.8500 handle following a continuation of the selling bias around the British pound and a resilient tone in the common currency.

Ahead in the day, GBP will take centre stage in light of the publication of UK’s trade balance figures, Industrial Production and Manufacturing Production.

EUR/GBP key levels

The cross is now up 0.33% at 0.8531 facing the initial resistance at 0.8627 (2016 high Jul.6) and then 0.8651 (high Aug.28 2013). On the downside, a breach of 0.8410 (20-day sma) would open the door to 0.8383 (23.6% Fibo of 0.7595-0.8627) and then 0.8248 (low Jul.14).