EUR/GBP Consolidates Support

The euro inched higher after a drop in the unemployment rate across the eurozone in July.


The recovery has gained momentum after the pair cleared the daily resistance at 0.8555. The 20-day MA crossing the 30-day one suggests that sentiment may have turned around.


Following a short consolidation, the single currency has met buying interest along 0.8550 and then 0.8570. 0.8610 is the next resistance and its breach could clear the path for a rally to the recent peak at 0.8660.



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