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EUR/GBP pushes higher as pundits call the top for UK interest rates
The GBP/USD is still struggling to make headway this morning and that is largely based on an converse move in the EUR/GBP that has played out so far today. The EUR/GBP is pushing higher again and has risen above 0.8635. That move is keeping offers flowing back into the GBP/USD even when the EUR/USD tries to push higher. So, the EUR/GBP is close to session highs right now. It is also well above its 50 and 100 day moving averages too. The next notable resistance level is still some way off and that is at 0.8712 (200 day moving average). The reason for the pound struggling so far today could rest with news stories, stating that Goldman Sachs has now joined Citibank in calling the next hike as being the top for UK interest rates this week. Well, they might both be right of course, but if that UK inflation data is well above consensus tomorrow morning, those guys might want to re-think that prognosis. We shall see. The EUR/GBP is just now at 0.8633
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