FXstreet.com (Barcelona) - While the Euro rallies on rumors that the ESM is getting a banking license, the British Pound plunges on the wider contraction than expected in the UK economy in Q2. The quarterly change is of -0.7%, while the annualized figure points to -0.8%.
On account of this, the EUR/GBP regained the 0.7800 level and went for a rally to 0.7839 high, for now. Currently, the cross is a slight retracement to the 200-hour moving average sitting at 0.7827.
Mataf.net analysts point to resistances at 0.7850. On the downside, supports might be found at 0.7765, 0.7750 and 0.7735.
On account of this, the EUR/GBP regained the 0.7800 level and went for a rally to 0.7839 high, for now. Currently, the cross is a slight retracement to the 200-hour moving average sitting at 0.7827.
Mataf.net analysts point to resistances at 0.7850. On the downside, supports might be found at 0.7765, 0.7750 and 0.7735.
