FXstreet.com (Barcelona) - The improved sentiment has brought the EUR/GBP to 0.7862 high so far as the light volume trading is volatility friendly.
Greece surprised the market with an improving Q2 GDP, from -6.5% to -6.2%, instead of widening the contraction to -7.0% as expected.
Commerzbank analysts are bearish while the cross remains below 0.7963 (August high): “EUR/GBP has slipped through its one month support line at 0.7859 and has the current August trough at 0.7852 in view”, wrote analyst Axel Rudolph.
Greece surprised the market with an improving Q2 GDP, from -6.5% to -6.2%, instead of widening the contraction to -7.0% as expected.
Commerzbank analysts are bearish while the cross remains below 0.7963 (August high): “EUR/GBP has slipped through its one month support line at 0.7859 and has the current August trough at 0.7852 in view”, wrote analyst Axel Rudolph.
