- 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
|Today last price||0.8543|
|Today Daily Change||-0.0005|
|Today Daily Change %||-0.06|
|Today daily open||0.8548|
|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|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.