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Forex: EUR/GBP in highs ahead of BoE minutes, UK data

FXstreet.com (Barcelona) - The pair is posting fresh highs in the vicinity of 0.8580 on Wednesday, ahead of the BoE minutes, the UK jobless rate and the UK Budget later.
The sterling is rapidly losing ground ahead of these events, adding to the bull run. The euro in the meantime keeps hovering over the 1.2900 figure with focus on the developments emanating from Cyprus.

At the moment, the pair is up 0.61% at 0.8578 with the next resistance at 0.8595 (high Mar.18) ahead of 0.8649 (MA21d) and then 0.8653 (MA10d),
On the other hand, a breakdown of 0.8506 (low Mar.19) would clear the way to 0.8451 (50% of 0.8086-0.8815) and finally 0.8442 (low Feb.11).

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Commerzbank analysts expect the GBP/USD to continue drifting lower again towards the psychological 1.5000 region after having already stayed below Friday’s 1.5176 high and the minor 1.5199/1.5223 resistance area (late February and early March highs) for the past few days.
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