11 May 2015
EUR/GBP: Decisively offered with April lows in sight
FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7152 with a high of 0.7257 and a low of 0.7140.
Has been better offered while Sterling has rallied up through key levels on the back of the UK elections that came with a decisive result. Technically, EUR/GBP has fallen towards the 0.7118 April low which guards the 0.7015 March low, completing a large decent from the recent highs 0.7483.
The fundamental risk ahead for the pair in this respect of political outcomes is the possibility of a UK referendum on Europe. Meanwhile today, the Eurogroup was in focus again. There has been a lack of progress around the Greek debt situation and concerns are back again as to whether Greece will be able to meet the deadlines.
Greek debt deadlines
There are deadlines close approaching for Greece to start making its commitments to the IMF starting tomorrow. Greece are to repay EUR757m to the IMF and then, in June, there is a requirement for the larger EUR1.5b IMF repayment and then the EUR 3b which will be owed to the ECB in July and August.
Has been better offered while Sterling has rallied up through key levels on the back of the UK elections that came with a decisive result. Technically, EUR/GBP has fallen towards the 0.7118 April low which guards the 0.7015 March low, completing a large decent from the recent highs 0.7483.
The fundamental risk ahead for the pair in this respect of political outcomes is the possibility of a UK referendum on Europe. Meanwhile today, the Eurogroup was in focus again. There has been a lack of progress around the Greek debt situation and concerns are back again as to whether Greece will be able to meet the deadlines.
Greek debt deadlines
There are deadlines close approaching for Greece to start making its commitments to the IMF starting tomorrow. Greece are to repay EUR757m to the IMF and then, in June, there is a requirement for the larger EUR1.5b IMF repayment and then the EUR 3b which will be owed to the ECB in July and August.