FXStreet (Edinburgh) - EUR/GBP keeps the upper bound of the recent range in the mid-0.7300s, looking to consolidate last Friday’s surge from sub-0.7300 levels.
EUR/GBP attention to EMU releases
Sideline patterns in both the sterling and the single currency are echoing in similar performance of the European cross ahead of the opening bell in London. The risk-off trends have been setting the rules in the Asian session in response to the less auspicious releases from the Chinese docket over the weekend, re-igniting concerns over the health of the economy.
Ahead in the day, Italian consumer prices plus EMU’s Industrial Production during July will see the light, although their relevance appears very limited.
EUR/GBP key levels
At the moment the cross is up 0.01% at 0.7348 facing the next up barrier at 0.7376 (high Sep.3) ahead of 0.7398 (high Sep.2) and then 0.7423 (high Aug.24). On the other hand, a breach of 0.7289 (low Sep.10) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20).
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