- 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
|Today last price||0.8596|
|Today Daily Change||-0.0031|
|Today Daily Change %||-0.36|
|Today daily open||0.8627|
|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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