EUR/GBP sidelined around 0.8500 following UK, EMU data

EUR/GBP is extending its consolidative theme around the 0.8500 handle on Wednesday following releases in the UK economy and the EMU.

EUR/GBP supported in the mid-0.8400s

The European cross is navigating in the middle area of the broader trading range between 0.8350 and late December tops around 0.8650, amidst the absence of significant events in both the UK and EMU and while markets are slowly returning to normalcy.

In the data space, the cross remained apathetic after UK’s Construction PMI has surpassed estimates and inflation figures in the euro bloc are expected to rise more than initially forecasted during December.

Ahead in the session, the FOMC minutes are poised to dictate the sentiment in the global markets, with consensus seeing the Committee delivering a hawkish message and thus supporting the momentum around the buck.

EUR/GBP key levels

The cross is now advancing 0.06% at 0.8508 and a surpass of 0.8612 (55-day sma) would aim for 0.88631 (100-day sma) and finally 0.8668 (high Dec.30). On the other hand, the next support is located at 0.8488 (low Jan.2) ahead of 0.8457 (20-day sma) and then 0.8353 (200-day sma).