Thursday, October 15, 2026

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FxWirePro: EUR/GBP edges lower from channel top resistance at 0.7360, ECB Constancio's dovish comments weigh

EUR/GBP extends gains for the second straight session on Wednesday, GBP dented by poor CPI data on Tuesday Gains in the day faltered ahead of channel top resistance at 0.7360, and the pair has edged lower to currently tr…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • EUR/GBP extends gains for the second straight session on Wednesday, GBP dented by poor CPI data on Tuesday

  • Gains in the day faltered ahead of channel top resistance at 0.7360, and the pair has edged lower to currently trade at 0.7336

  • Pair influenced by dovish steer from ECB's Constancio, who said that ECB has scope to increase/expand QE

  • By contrast, BoE is expected to hike Bank Rate in 2016, Carney & 3 MPC hawks to address TSC from 1315GMT 

  • Sterling cautious ahead of the UK jobs report, expectations are for a stronger UK labour market report

  • Euro zone CPI data seen flat m/m in August, compared to a -0.6% in July, will also provide further incentives on the cross later today

Resistance Levels:

R1: 0.7358 (Daily High Sept 14)

R2: 0.7360 (Channel top)

R3: 0.7376 (Daily High Sept 3)

Support Levels:

S1: 0.7323 (200-Day MA)

S2: 0.7318 (10-Day MA)

S3: 0.7313 (Session low Sep 15)

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EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team