EUR/GBP dips to lows near 0.8220

The solid performance of the Sterling is pushing EUR/GBP to test daily lows in the 0.8230/20 band.

EUR/GBP attention to the EU Summit

The European cross is extending its decline today, coming down from Monday’s tops in the 0.8380 region following an increasing buying interest around the Sterling.

In the data space, German inflation figures have come in in line with initial expectations, passing largely unnoticed for EUR while markets keep the focus on the EU Leaders Summit.

EUR/GBP key levels

The cross is now losing 0.75% at 0.8231 and a breakdown of 0.8163 (low Jun.27) would open the door to 0.7996 (high Jun.16) and then 0.7902 (20-day sma). On the flip side, the next up barrier lines up at 0.8383 (high Jun.27) ahead of 0.8401 (monthly high Mar.18 2014) and then 0.8467 (monthly high Dec.17 2013).