EUR/GBP Live News

This page provides live coverage and news analysis on the EUR/GBP currency pair

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Jan. 31, 2023

Kicking off the session at 0.8784, Euro-Pound currency pair peaks at 0.8823

Live - Updated 20 minutes ago.

Tentatively higher from an earlier low of 0.8771, Euro-Pound is up to 0.8819 today, adding 35 pips, or 0.41%, to yesterday's closing price of 0.8783.

On the flip side, data for Germany Unemployment Change published today at 08:55 UTC came out at -15,000, beating projections of 5,000 and showing improvement over the preceding figure of -13,000.

At the same time, Italy 10-Year BTP Auction released today at 10:10 UTC with a figure of 4.28, while the previous figure was 3.96. Data for Euro Zone GDP released today at 10:00 UTC is better than expected with 0.1, but worse than previous figure of 0.3.

Technical analysis of Euro-Pound's past price action reveals multiple support and resistance levels: EUR/GBP broke through the 0.8808 resistance and climbed above it 10 pips; next resistance level is at 0.8824. Trend analysis indicates that Euro-Pound made an initial breakout above its 21 day Simple Moving Average at 0.8803, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Euro-Pound's upper Bollinger Band® is at 0.8889, this is a slight indication of a slowdown.

Overall, the technical outlook suggests Euro-Pound is likely to remain muted for the immediate future, with no clear-cut direction.

Meanwhile, GBP/JPY closed at 159.85 (down 0.73%). GBP/USD slides down 0.43% to trade around 1.23. GBP/CAD is down to 1.6467, losing 63 pips, after closing at 1.653 in the preceding trading session.

Also worthy of note, Euro Zone Consumer Price Index figure is projected at 9%. It previously stood at 9.2%; data will be released tomorrow at 10:00 UTC. Euro Zone ECB Press Conference is scheduled tomorrow at 13:45 UTC. United Kingdom Nationwide HPI (MoM) (Jan) is expected tomorrow at 07:00 UTC.

Trading mostly sideways for 2 months. As things stand, Euro-Pound is 10.24% away from a significant high of 0.9785, first set 3 months ago.

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Week to date

Euro-Pound is trading around 0.8819 after ending the previous session at zero (up 0%) .

Trading week at a glance - EUR/GBP is up to 0.8819, after closing yesterday at zero. Overall, a 0% move or 8,819 pips this week. (Start trading Euro-Pound at FXTM today).

On the flip side, data for Germany Unemployment Change published today at 08:55 UTC came out at -15,000, beating projections of 5,000 and showing improvement over the preceding figure of -13,000. Highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2.

At the same time, Italy 10-Year BTP Auction released today at 10:10 UTC with a figure of 4.28, while the previous figure was 3.96. Euro Zone GDP released today at 10:00 UTC is better than expected at 0.1 but down from preceding data of 0.3 according to new data. GDP in Euro Zone fell short of market expectations (2.2%) with a reading of 1.9%, continuing the decline from the previous figure of 2.3%.

Furthermore, the market is looking at Euro Zone Deposit Facility Rate (Feb) is expected Thursday. Euro Zone Interest Rate figure is projected at three. It previously stood at 2.5; data will be released Thursday. United Kingdom BoE Interest Rate Decision (Jan) is scheduled for Thursday.