17 Mar 2015
EUR/GBP testing 0.7200
FXStreet (Edinburgh) - After climbing as high as the boundaries of 0.7220, EUR/GBP is now deflating to the vicinity of the key mark at 0.7200.
EUR/GBP boosted by euro
The solid performance of the single currency at the beginning of the week is giving the cross a renewed upside bias, managing to regain the 0.7200 handle and challenging at the same time 2-week tops near 0.7220.
Mixed data from the ZEW Survey in Germany and the euro area plus in-line consumer prices in the euro bloc for the month of February were innocuous, while the BoE minutes and UK’s labour market figures tomorrow will be of bigger significance.
EUR/GBP levels to consider
At the moment the cross is up 0.99% at 0.7197 with the next up barrier at 0.7220 (high Mar.9) followed by 0.7238 (high Mar.6) and finally 0.7261 (21-d MA). On the downside, a drop beyond 0.7120 (low Mar.17) would expose 0.7093 (low Mar.16) and then 0.7036 (low Mar.12).
EUR/GBP boosted by euro
The solid performance of the single currency at the beginning of the week is giving the cross a renewed upside bias, managing to regain the 0.7200 handle and challenging at the same time 2-week tops near 0.7220.
Mixed data from the ZEW Survey in Germany and the euro area plus in-line consumer prices in the euro bloc for the month of February were innocuous, while the BoE minutes and UK’s labour market figures tomorrow will be of bigger significance.
EUR/GBP levels to consider
At the moment the cross is up 0.99% at 0.7197 with the next up barrier at 0.7220 (high Mar.9) followed by 0.7238 (high Mar.6) and finally 0.7261 (21-d MA). On the downside, a drop beyond 0.7120 (low Mar.17) would expose 0.7093 (low Mar.16) and then 0.7036 (low Mar.12).