EUR/GBP extends the breakdown of 0.8600

The solid performance of the Sterling in combination with the now offered bias around the single currency is driving EUR/GBP to the vicinity of 0.8570.

EUR/GBP gains capped by 0.8630

The European cross is navigating multi-day lows in the 0.8580/70 band, coming down from daily peaks near 0.8630, as the selling pressure around EUR has gathered traction during the NA session.

Mixed results from advanced PMIs in Euroland have collaborated with the upside momentum in the common currency earlier in the day, although the pick up in the demand for the greenback has undermined any recovery attempts.

EUR/GBP key levels

The cross is now losing 0.48% at 0.8578 facing the initial support at 0.8539 (20-day sma) ahead of 0.8544 (20-day sma) and finally 0.8341 (low Aug.4) and finally 0.8248 (low Jul.14). On the other hand, a surpass of 0.8727 (2016 high Aug.16) would expose 0.8778 (high Jul.31 2013) and then 0.8794 (high Mar.12 2013).