EUR/GBP is extending its upbeat momentum on Wednesday, hovering over session highs near 0.7860 ahead of the opening bell in Euroland. EUR/GBP focus on EMU, German data The cross is back to the positive territory after yesterday’s correction lower towards the 0.7830 area, bolstered by a better sentiment towards the risk-associated space following Yellen’s dovish speech. EUR will be in the limelight ahead in the session, as EMU’s Economic Sentiment and Business Climate are due later, seconded by the more relevant advanced inflation figures in Germany for the current month. EUR/GBP key levels The European cross is now gaining 0.10% at 0.7856 facing the next resistance at 0.7947 (2016 high Mar.24) ahead of 0.8007 (monthly high Dec.16 2014) and finally 0.8041 (monthly high Nov.19 2014). On the other hand, a breakdown of 0.7816 (20-day sma) would expose 0.7751 (55-day sma) and then 0.7650 (post-ECB low Mar.10). For more information, read our latest forex news.