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EUR/GBP holds near mid-0.8500s as UK jobs data nears
Sterling is set to react to UK wage and employment releases watched by the Bank of England for inflation stickiness, while EUR/GBP stays rangebound before that catalyst.
EUR/GBP is trading in a narrow band around the mid-0.8500s, with the pair close to flat on the day as investors wait for upcoming United Kingdom data, according to FXStreet.
The focus is on Tuesday's UK jobs report, including Average Earnings and wage measures closely monitored by the Bank of England to gauge how sticky domestic inflation remains, alongside the Claimant Count, Employment Change, and the ILO Unemployment Rate.
The European Central Bank raised rates in June, and markets are still leaning toward another move at the September meeting, with energy-driven inflation cited as keeping policy-hawks in charge.
Technically, FXStreet said EUR/GBP was around 0.8546 on the 4-hour chart, capped by the 20-period and 100-period simple moving averages, with support near 0.8544 and a further level around 0.8543 if the range breaks down.