EUR/GBP looks to extend gains beyond 0.8600 post mixed UK data


  • EUR/GBP is edging higher in the European trading session.
  • The Euro gains on upbeat economic outlook and growth projections.
  • GBP remains in dismay amid dismal GDP numbers, delay in economic reopening

The EUR/ GBP price gathers momentum on Friday in the European trading hours. The cross-currency pair recovers part of its previous day’s losses.

At the time of writing, EUR/GBP trades at 0.8597, up 0.18% for the day.

The British pound suffers at the hand of mixed economic data. The Gross Domestic Product (GDP)  rose 2.3% in April. The Construction Output jumped 77.9%. The Industrial Production shrank by 1.3% in April against the market expectations of 1.2%.

In addition to that, the discussions among the UK policymakers on postponing the complete re-opening of the economy on June 21 due to the Indian variant also weighed on the British pound.

Meanwhile, the EU pledges a firm response as Brexit tension escalates on disagreement over the Northern Ireland protocol.

On the other hand, the shared currency gained after  Germany posted an increased 9.7% rise in Wholesale prices. The ECB, in its latest policy meeting, kept the interest unchanged but vowed to continue with the bond purchasing program to boost the economy. 
 

EUR/GBP additional levels

EUR/GBP

Overview
Today last price 0.8596
Today Daily Change -0.0031
Today Daily Change % -0.36
Today daily open 0.8627
 
Trends
Daily SMA20 0.8611
Daily SMA50 0.8632
Daily SMA100 0.8655
Daily SMA200 0.8845
 
Levels
Previous Daily High 0.8638
Previous Daily Low 0.8589
Previous Weekly High 0.8646
Previous Weekly Low 0.8566
Previous Monthly High 0.8711
Previous Monthly Low 0.8561
Daily Fibonacci 38.2% 0.862
Daily Fibonacci 61.8% 0.8608
Daily Pivot Point S1 0.8598
Daily Pivot Point S2 0.8569
Daily Pivot Point S3 0.8549
Daily Pivot Point R1 0.8647
Daily Pivot Point R2 0.8667
Daily Pivot Point R3 0.8696

 

 

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