EUR/GBP sidelined near 0.8620 on flat markets

EUR/GBP remains uninspired at the end of the week, alternating gains with losses in the 0.8625/20 band for the time being.

EUR/GBP looks to risk trends for direction

The European cross has retaken the 0.8600 handle and beyond after yesterday’s short-lived test of the 0.8790/85 area, although it remains in the lower end of the weekly range and more than a cent down from fresh cycle highs near 0.8730 (August 16).

Nothing worth mentioning in the data space today, while the upbeat sentiment in the risk-associated space seems to be taking breather today in light of the recovery of the US dollar.

EUR/GBP key levels

The cross is now up 0.03% at 0.8625 facing the initial hurdle at 0.8727 (2016 high Aug.16) ahead of 0.8778 (high Jul.31 2013) and then 0.8794 (high Mar.12 2013). On the other hand, a break below 0.8514 (20-day sma) would expose 0.8341 (low Aug.4) and finally 0.8248 (low Jul.14).