Can EUR/GBP firmly hold a break above 0.9000 today?
The pair has been knocking on the door of the 0.9000 handle over the past two weeks and is now hitting a fresh six-month high as the pound slips on the day. If buyers can manage a daily break above the 0.9000 handle, I reckon it could keep the rally going for a while more towards the highs seen in December and January.
As for the pound weakness today, I want to argue that it's largely on the back of sentiment/flows but with key UK data set to be released later on today, this isn't the first time we're seeing something like this happen (if you catch my drift).
Let's see what the labour market report has to offer later today before drawing those conclusions but either way, it hasn't been a great last ten weeks for the pound against the euro and EUR/GBP bulls don't look like keeping their horns away just yet.
