EUR/GBP chart - Trading View
EUR/GBP was trading 0.22% higher on the day at 0.8588 at around 11:30 GMT, extends upside for the 2nd straight session.
The shared currency remained supported after better-than-expected Eurozone consumer inflation figures.
Data published by Eurostat on Tuesday showed annualized Eurozone Consumer Price Index (CPI) came in at 3.0% in August, beating expectations of 2.7% while rising from June’s reading of 2.2%.
The core figures were up by 1.6% YoY in August when compared to 1.5% expectations and 0.7% recorded previously.
On the other side, sterling remained depressed amid the recent spike in COVID-19 cases in the UK.
EUR/GBP is testing crucial resistance at 110-EMA. Momentum is bullish, volatility is high, decisive break above 110-EMA will buoy bulls.
Next immediate hurdle aligns at 23.6% Fib at 0.8634 ahead of 200-DMA at 0.8691. Rejection at 110-EMA to see extension of sideways grind.
