EUR/GBP flirting with 0.8300 ahead of Carney

After testing the mid-0.8200s in early trade, EUR/GBP is now looking to retake the key 0.8300 handle.

EUR/GBP looks to Carney, data

The cross is prolonging its weekly decline today, although a break below the 0.8250 area still remains elusive for sellers.

Thursday’s strong rebound in GBP after a steady BoE has intensified the selling pressure around the cross, which has surrendered already almost four big-figures since recent fresh cycle tops near 0.8630.

Ahead in the session EMU’s final CPI for the month of June is expected to match preliminary readings, while the speech by Governor M.Carney will take centre stage across the pond.

EUR/GBP key levels

The cross is now losing 0.30% at 0.8295 and a breakdown 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). On the flip side, the initial hurdle is located at 0.8627 (2016 high Jul.6) ahead of 0.8651 (high Aug.28 2013) and then 0.8712 (high Jul.17 2013).