- EUR/GBP finds major resistance at 0.9215, we see further upside only on break above.
- The pair has failed to break above, edges lower to currently trade at 0.92 levels.
- EUR/GBP hits fresh 10-month highs at 0.9213. Technical studies still bullish, the pair is on track to test 0.9225 (Oct 7th high).
- Data released earlier today showed UK public sector net borrowing decreased by £0.8 billion in July. CBI Industrial Order Expectations for August also beat expectations.
- The shared currency remains bid following the release of better-than-expected flash Euro-zone PMI prints for August.
- Also, rising market expectations of a possible ECB tapering clues at the Jackson Hole Symposium keep euro supported.
Support levels - 0.9155 (5-DMA), 0.9079 (weekly 5-SMA), 0.9060 (20-DMA)
Resistance levels - 0.9215 (trendline), 0.9225 (Oct 7th high), 0.93
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