EUR/GBP chart - Trading View
EUR/GBP trades rangebound on the day, at 0.8879 at 06:20 GMT.
The pair is extending breakout at 200-DMA, momentum studies are bullish.
Focus on Eurozone CPI data. The single currency may come under pressure if the Eurozone inflation data prints well below estimates.
Markets expect the Eurozone's preliminary Consumer Price Index - Core (YoY) (May) of 0.9%.
A better-than-expected Eurozone inflation would bolster the already bullish technical setup, opening doors for a move above 0.89 handle.
Next major bull target lies at 0.8993 (61.8% Fib). Retrace below 200-DMA negates bullish bias.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
