EUR/GBP choppy around 0.8670, UK data eyed

EUR/GBP is posting decent gains in the second half of the week, testing the 0.8670 area in light of UK and EMU data releases.

EUR/GBP attention to data

The European cross has resumed its upside momentum today, extending the positive streak for the second session in a row after the rejection from recent fresh cycle highs above the 0.8700 handle.

Dovish FOMC minutes on Wednesday have boosted the sentiment around the riskier assets, sustaining the buying bias in the single currency and the British pound while helping to keep the cross in the upper bound of the recent range.

Next of relevance in the data space will be UK’s Retail Sales and EMU’s final inflation figures for the month of July.

EUR/GBP key levels

The cross is now up 0.10% at 0.8669 facing the initial hurdle at 0.8727 (2016 high Aug.16) ahead of 0.8778 (high Jul.31 2013) and then 0.8794 (high Mar.12 2013). On the other hand, a break below 0.8504 (20-day sma) would expose 0.8341 (low Aug.4) and finally 0.8248 (low Jul.14).