FXStreet (Edinburgh) – The consolidative pattern in both the sterling and the single currency is prompting EUR/GBP to keep the trade above the 0.7300 handle on Friday.
EUR/GBP retreats from 0.7340
After climbing as high as the boundaries of 0.7340 in the wake of the FOMC meeting on Thursday, the European cross has receded some ground to stabilize in the low-0.7300s ahead of the opening bell in London.
In the data space, while markets continue to digest the dovish tone from the Fed yesterday, the only release in the euro bloc will be the Current Account figures for the month of July, expected at €21.3 billion.
EUR/GBP key levels
At the moment the cross is losing 0.02% at 0.7285 and a breach of 0.7275 (low Sep.17) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the next resistance aligns at 0.7362 (high Sep.16) followed by 0.7376 (high Sep.3) and then 0.7398 (high Sep.2).
(Market News Provided by FXstreet)