EUR/GBP has been in a corrective volatile trend recently. Recently, EUR is seen gaining over GBP, taking the price over 0.8450. Today, the eurozone presented positive economic reports which helped the single European currency to gain more ground against GBP. Today, Germany's Prelim GDP report was published as expected at 0.6%. Germany's Final CPI was also unchanged at 0.0% which was coincided expectations. France's Prelim Non-Farm Payrolls were better than expected at 0.3% instead of the consensus of at 0.2%. However, the eurozone's Industrial Production report was negative at -0.1% which was expected to be at 0.3%. On the other hand, the UK does not have any economic events today. Amid the mixed economic reports from the eurozone, EUR is going to advance against GBP in the coming days.
Now let us look at the technical chart. The price is currently residing below the dynamic level of 20 EMA resistance. A daily close above it will open the path upward towards the next resistance of 0.8550. On the other hand, if the price breaks below 0.8420 with a daily close, then we will consider sell orders with a target towards 0.8300 support level. As the market is volatile, a daily close today is needed to predict the upcoming moves in this pair.
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