EUR/GBP Pushes Higher Near 0.7980
The march north in EUR/GBP continues unabated today, currently testing fresh more than 1-year highs around 0.7980.
EUR/GBP boosted by GBP-selling
The European cross is trading in levels last seen in late December 2014 near 0.7980, closer to the psychological handle at 0.8000 backed by a persistent weakness hurting the British pound, while the shared currency extends the rally vs. its main rivals.
Poor manufacturing PMI in the UK economy has contrasted with better-than-expected readings in Germany and the euro zone, adding extra legs to the upside. Ahead in the day, US Non-farm Payrolls will rule the sentiment later in the NA session.
EUR/GBP key levels
The European cross is now gaining 0.58% at 0.7971 facing the next resistance at 0.8007 (monthly high Dec.16 2014) ahead of 0.8041 (monthly high Nov.19 2014) and finally 0.8100 (psychological level). On the other hand, a breakdown of 0.7839 (20-day sma) would expose 0.7764 (55-day sma) and then 0.7650 (post-ECB low Mar.10).
(Market News Provided by FXstreet)