A sudden pickup in the British pound dragged the EUR/GBP cross to eight-month lows, around mid-0.8800s during the first half of this European trading session.
Having failed to capitalize on the tried recovery this week, the cross witnessed aggressive advertising on Wednesday and now seems set to resume its recent well-established bearish tendency. The sterling remained untouched by the imposition of travel restrictions in the united kingdom, rather got a lift after the release of hotter-than-expected UK consumer inflation figures.
According to the UK Office for National Statistics (ONS), UK headline CPI rose 0.6percent YoY and 0.3% MoM in December. The readings well above the previous month’s figures and surpassed consensus estimates. Adding to this, the core inflation (excluding food and energy items) came at +1.4% YoY during the reported month as against +1.1% reserved in November and marketplace expectations of +1.3%.
On the flip side, the shared money fought to benefit from a weaker tone enclosing the US buck as investors seemed loath ahead of the ECB fiscal policy meeting on Thursday. Bulls also refrained from putting fresh bets amid a delay in the COVID-19 vaccine rollout in Europe and the possibility for an expansion of lockdown measures in Germany before February 15.
Meanwhile, the final version of the Eurozone CPI matched initial estimates, with the headline amount coming in at -0.3% and the heart gauge at +0.2percent YoY speed for December. The information did little to transfer the euro or offer some meaningful impetus to the EUR/GBP cross. This, then, leaves traders in the winner of the GBP price dynamics ahead of the major ECB event danger on Thursday.
EUR/GBP
OVERVIEW
Today last cost 0.8858
Today Daily Change -0.0036
Now Daily Change % -0.40
Nowadays daily available 0.8894
TRENDS
Daily SMA20 0.8982
Daily SMA50 0.8997
Daily SMA100 0.9035
Daily SMA200 0.8992
LEVELS
Past Daily High 0.8919
Past Daily Low 0.8884
Past Weekly High 0.9037
Past Weekly Low 0.8866
Past Monthly High 0.923
Past Monthly Low 0.8929
Daily Fibonacci 38.2% 0.8905
Daily Fibonacci 61.8% 0.8897
Daily Pivot Point S1 0.8879
Daily Pivot Point S2 0.8864
Daily Pivot Point S3 0.8844
Daily Pivot Point R1 0.8914
Daily Pivot Point R2 0.8934
Daily Pivot Point R3 0.8949
