EUR/GBP remains pressured below 0.8550 ahead of UK critical data


  • EUR/GBP edges lower on Wednesday in the initial European session.
  • ECB policymakers mixed views on policy, Eurozone economic readings influence the Euro outlook. 
  • The sterling remains firmer ahead of Inflation and PPI data.    

After opening on a higher note, EUR/GBP upside momentum flattens in the early European trading hours. The pair confides in a 20-pips movement ahead of the critical macroeconomic data.

At the time of writing, EUR/GBP is trading at 0.8542, down 0.01 % for the day.

The shared currency gathers losses the earlier gains despite the upbeat comments from the European Central Bank (ECB) policymakers on Tuesday.

 European Central Bank (ECB) Governing Council Member Francois Villeroy de Galhau and Executive Board Member Isabel Schnabel said there were no fears of high inflation. Investors assessed the comments as delays in further tapering and rate actions.

On the other hand, the British pound gained after the UK unemployment rate fell to 4.6% in July, the lowest level since the June-August 2020 period and as per the market expectations.

As for now, traders are waiting for the UK Inflation, Producer Price Index (PPI) data, Eurozone Industrial Production data to gauge the market sentiment.

EUR/GBP additional levels

EUR/GBP

Overview
Today last price 0.8543
Today Daily Change -0.0005
Today Daily Change % -0.06
Today daily open 0.8548
 
Trends
Daily SMA20 0.8567
Daily SMA50 0.8547
Daily SMA100 0.8579
Daily SMA200 0.8678
 
Levels
Previous Daily High 0.8552
Previous Daily Low 0.8511
Previous Weekly High 0.8614
Previous Weekly Low 0.852
Previous Monthly High 0.8599
Previous Monthly Low 0.845
Daily Fibonacci 38.2% 0.8536
Daily Fibonacci 61.8% 0.8526
Daily Pivot Point S1 0.8522
Daily Pivot Point S2 0.8496
Daily Pivot Point S3 0.8481
Daily Pivot Point R1 0.8563
Daily Pivot Point R2 0.8578
Daily Pivot Point R3 0.8604

 


 

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