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EUR/GBP lifts above 0.8600 again as UK data disappoints

Following on from the previous update, noting the miss on the latest UK GDP data, the fall back in the GBP/USD has allowed the EUR/GBP to rebound back above 0.8600 once more. Yesterday the EUR/GBP did slightly extend a move above 0.8600, when peaking at 0.8608. It could not hold all the gain though and later closed in the US at 0.8592. However, it is on the rebound again following that weaker than expected UK data and it is threatening the highs seen yesterday. It could extend more, given the dynamics in place right now. The EUR/GBP is currently trading at 0.8607
 

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