FXstreet.com (Barcelona) - EUR/GBP declined through the European session to find support at 0.8007 before bouncing higher, following better than expected ADP Employment Change numbers out of the US.
While the previous months figures were revised to 189k by the ADP, today’s figures still be analyst estimates at 162k/143k. The pair has since continued to climb higher to where it is currently trading at 0.8017, just below R1 resistance at 0.8022.
ICN.com analysts are bullish on the pair but believe that spot must stabilize above 0.8030 in order to maintain its upside momentum. A US Presidential debate is scheduled to start shortly at 13:00 GMT, with ISM Manufacturing due an hour later at 14:00 GMT.
European stocks remain broadly up on the day alongside US futures. Commodities are mixed whilst critical European yields have partially risen but are very stable at the moment.
While the previous months figures were revised to 189k by the ADP, today’s figures still be analyst estimates at 162k/143k. The pair has since continued to climb higher to where it is currently trading at 0.8017, just below R1 resistance at 0.8022.
ICN.com analysts are bullish on the pair but believe that spot must stabilize above 0.8030 in order to maintain its upside momentum. A US Presidential debate is scheduled to start shortly at 13:00 GMT, with ISM Manufacturing due an hour later at 14:00 GMT.
European stocks remain broadly up on the day alongside US futures. Commodities are mixed whilst critical European yields have partially risen but are very stable at the moment.
