EUR/GBP extends recovery, nearing 0.8700 following upbeat Eurozone data

EUR/GBP has been on a recovery path for three consecutive days, nearing 0.8700 on Thursday. This upward movement is attributed to upbeat Eurozone sentiment data and an unexpected drop in the region's unemployment rate. The market is responding positively to this data, increasing the Euro's strength. Specifically, the improved economic indicators in the Eurozone are favoring the Euro against the Pound, with the recent decline in unemployment providing reassurance to investors. As expectations for future economic growth rise, the Pound remains relatively weak, reinforcing the Euro's dominance over GBP. Market participants will be watching closely to see how this trend develops, especially whether it can break the resistance level at 0.8700.