The EUR/GBP pairing continues to look for a foothold on the charts, but this week brings key United Kingdom (UK) data and a critical rate call from th
UK wages, unemployment data to pluck away at the GBP for the early week.The EUR/GBP pairing continues to look for a foothold on the charts, but this week brings key United Kingdom data and a critical rate call from
. Showings for both currencies threaten to keep the EUR/GBP pair hamstrung as sentiment drifts back and forth between the two.The UK faces wage growth, unemployment, and industrial activity figures for the first half of the trading week. Wage figures, while slowly declining, remain elevated.
Market forecasts broadly anticipate the ECB to stand pat on rates for September’s meeting, though any nasty surprises from the ECB could throw markets for a loop.The Euro is looking for a leg up against the Pound Sterling in the markets today, trading into a session high of 0.8587. The pair started the trading week on a decidedly softer tone, with the Euro declining to 0.8558 before facing a rally on the back of a waffling GBP.
Longer-term, the pair is looking decidedly constrained, with the EUR/GBP trading into familiar territory for the past three months. The pair refuses to decline any further, marking its territory above the 0.8500 handle, but resistance from a declining 50-day EMA at 0.8585 is capping upside momentum.Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
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