The EUR/GBP declined from the day's opening bids of 0.8680 into an intraday low of 0.8660 before rebounding into 0.8670 as the Euro (EUR) twists into
The EUR/GBP is strung along the midrange after dipping into a low of 0.8660 on Wednesday. The Euro's consolidation range against the Pound Sterling remains intact as the 0.8700 handle proves elusive. UK inflation held over expectations, ECB's Lagarde notes high wages. the middle against the Pound Sterling . Uk Consumer Price Index inflation came in above expectations, holding steady at 6.7% in for the year into September versus the forecast decline to 6.5%.
ECB’s Lagarde: Underlying inflation is still strong, wage growth is historically high EUR/GBP Technical Outlook The EUR/GBP pair is drifting towards the 200-day Simple Moving Average near the top-end of medium-term consolidation at the 0.8700 handle, and the major price level is set to remain a significant cap for the Euro-Pound pairing if bidders aren't able to extend from the last bullish bounce from 0.8620. The EUR/GBP initially fell into 0.
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