EUR/GBP Unmotivated Below 0.7900
EUR/GBP is looking to digest yesterday’s drop, currently navigating the 0.7890/80 band ahead of the opening bell in Euroland.
EUR/GBP focus on NFP
The
cross continues to trade below the 0.7900 handle, trimming part of the
weekly advance to tops near 0.7950 on Wednesday, amidst thin trade and
scarce volatility as cautiousness prevails in light of US Non-farm
Payrolls.
Market consensus sees the US economy adding slightly
above 200K jobs during April, while the unemployment rate is expected to
remain at 5.0%.
EUR/GBP key levels
The
cross is now up 0.04% at 0.7877 facing the next hurdle at 0.7947 (high
May 4) ahead of 0.7995 (high Apr.18) and then 0.8119 (2016 high Apr.7).
On the flip side, a breach of 0.7733 (100-day sma) would expose 0.7731
(low Apr.26) and finally 0.7476 (200-day sma).
