• EUR/GBP edges higher in the Asian session on Wednesday.
  • The Euro remains strong on mixed economic data.
  • The sterling fails to sustain the gains on Jobs data.

After making a high of 0.8537 in the previous session, EUR/GBP remains muted in the Asian session. The pair confides in a narrow trade band with an underlying bearish sentiment.

At the time of writing, EUR/GBP is trading at 0.8521, up 0.01 % for the day.

The shared currency gathers momentum against the pound after strong EU data. The Eurozone Gross Domestic Product (GDP) Q2 came at 2.0%, following two consecutive periods of contradiction. The number of employed persons edged up 0.5% in Q3, in line with the market expectations. 

The EU Industrial Production fell 0.3% in June as compared to the market expectation of a 0.2% drop.

On the other hand, the sterling manages to gain some traction on stronger employment data. The number of employees on British company payrolls jumped 182K in July, whereas the Unemployment Rate eased 4.7% in Q2, marginally below the market expectations.

It is worth noting that S&P 500 Futures were trading down at 4,448 with 0.71% losses

As for now, traders are waiting for the UK Consumer Price Index (CPI) data, Retail Price Index, and EU CPI data to gain fresh trading impetus.

EUR/GBP additional levels

EUR/GBP

Overview
Today last price 0.8521
Today Daily Change -0.0002
Today Daily Change % -0.02
Today daily open 0.8523
 
Trends
Daily SMA20 0.8517
Daily SMA50 0.8553
Daily SMA100 0.8591
Daily SMA200 0.8718
 
Levels
Previous Daily High 0.8537
Previous Daily Low 0.8504
Previous Weekly High 0.8518
Previous Weekly Low 0.845
Previous Monthly High 0.867
Previous Monthly Low 0.85
Daily Fibonacci 38.2% 0.8524
Daily Fibonacci 61.8% 0.8517
Daily Pivot Point S1 0.8506
Daily Pivot Point S2 0.8489
Daily Pivot Point S3 0.8474
Daily Pivot Point R1 0.8538
Daily Pivot Point R2 0.8554
Daily Pivot Point R3 0.857

 


 

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