FXstreet.com (Barcelona) - The EUR/GBP has been climbing the chart right after testing Friday’s low, at 0.7828, and extended its move higher since the London opening, reaching 0.7862 high, after the Q2 GDP report in Greece.
The Greek GDP improved in Q2 against expectations, from -6.5% to -6.2%, while market consensus pointed to -7.0%.
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.
The Greek GDP improved in Q2 against expectations, from -6.5% to -6.2%, while market consensus pointed to -7.0%.
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.
