EUR/GBP wobbling around 0.84 ahead of UK data

EUR/GBP is trading in a narrow range on Wednesday, although it manages to keep the trade above the 0.8400 handle for the time being.

EUR/GBP up smalls ahead of data

The cross remains well supported in the 0.8400 neighbourhood, looking to consolidate yesterday’s strong advance amidst increasing selling pressure around the Sterling.

Ahead in the session, UK’s labour market figures are due and market consensus expects the Claimant Count Change to have increased by 3.5K in June and the jobless rate to remain at 5.0% in May.

EUR/GBP key levels

The cross is now advancing 0.01% at 0.8408 facing the initial up barrier at 0.8627 (2016 high Jul.6) ahead of 0.8651 (high Aug.28 2013) and then 0.8712 (high Jul.17 2013). On the flip side, a breach of 0.8248 (low Jul.14) would aim for 0.8233 (23.6% Fibo of 0.7595-0.8627) and then 0.8202 (low Jun.29).