- EUR/GBP hits fresh 10-month highs at 0.9164. Euro on rampage ahead of this week's Jackson Hole symposium.
- However, ECB's Draghi is unlikely to sound too hawkish considering the strength in the euro.
- Technical studies still bullish, the pair is on track to test 0.9225 (Oct 7th high).
- German ZEW Economic Sentiment Index for the next six months is due to be released shortly.
- Analysts expect the headline economic sentiment index to edge slightly lower to 15.0 in August after a 17.5 reading registered in July.
- While the current situation sub-index is also expected to tick lower to 85.5 versus 86.4 booked previously.
- A positive surprise in the ZEW surveys may offer fresh impetus to the EUR bulls.
Support levels - 0.9138 (5-DMA), 0.9071 (weekly 5-SMA), 0.9047 (20-DMA)
Resistance levels - 0.9180 (trendline), 0.92, 0.9225 (Oct 7th high)
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