FXstreet.com (Barcelona) - The EUR/GBP also made a considerable upside leap on account of Fitch Riley’s comments about ECB action, his optimistic outlook regarding Europe and the no-need of further austerity in Italy.
In a matter of moments, the cross jumped 20 pips to 0.7880. However, a 50% retracement is being seen, at the moment, ahead of UK public sector net borrowing. Reuters median forecast placed the expectation of £-2.550B for July, from £12.083B in June.
Commerzbank analysts are bearish on the EUR/GBP, but being “too soon to drift back towards minor support at 0.7823/13, the analyst Axel Rudolph points to resistance: “Minor resistance below this level can be found around last week’s high at 0.7884 and at 0.7913, the 12th and 13th of July high.
In a matter of moments, the cross jumped 20 pips to 0.7880. However, a 50% retracement is being seen, at the moment, ahead of UK public sector net borrowing. Reuters median forecast placed the expectation of £-2.550B for July, from £12.083B in June.
Commerzbank analysts are bearish on the EUR/GBP, but being “too soon to drift back towards minor support at 0.7823/13, the analyst Axel Rudolph points to resistance: “Minor resistance below this level can be found around last week’s high at 0.7884 and at 0.7913, the 12th and 13th of July high.
