EUR/GBP Above 0.7800 Ahead of UK CPI
EUR/GBP is trading almost unchanged today, managing to keep the trade above the key 0.7800 barrier.
EUR/GBP focus on UK CPI, EMU data
The European cross is looking to extend the upside momentum sparked on Monday, meandering in a narrow range and with gains so far capped in the 0.7840 area.
Ahead in the session UK’s CPI figures during February are due, along with German IFO and advanced manufacturing PMIs in Euroland.
EUR/GBP key levels
The European cross is now losing 0.02% at 0.7823 and a drop below 0.7794 (20-day sma) would expose0.7714 (55-day sma) and then 0.7620 (50% Fibo of 0.7310-0.7931). On the other hand, the next up barrier lines up at 0.7913 (high Mar.17) ahead of 0.7931 (2016 high Feb.25) and finally 0.8000 (psychological handle).
(Market News Provided by FXstreet)
