EUR/GBP pushes higher near 0.8560, daily peaks

The upbeat mood in EUR/GBP remains unchanged so far in the European afternoon, now hovering over session tops in the 0.8550/60 band.

EUR/GBP up on buoyant EUR

Opposite performances from both the Sterling and the single currency are allowing the current abrupt upside in the European cross to the vicinity of 0.8560, snapping at the same time a 3-day negative streak (including 2-week low at 0.8482 recorded yesterday).

EUR has quickly shrugged off poor results from the German IFO for the current month, picking up extra pace in response to the swelling offered bias surrounding the dollar.

EUR/GBP key levels

The cross is now gaining 0.49% at 0.8555 facing the initial resistance at 0.8727 (2016 high Aug.16) and then 0.8778 (high Jul.31 2013). On the other hand, a breakdown of 0.8482 (low Aug.24) would expose 0.8441 (support trend line off July’s low) and finally 0.8341 (low Aug.4).