11 Jun 2015
EUR/GBP free-falls to 0.7250
FXStreet (Edinburgh) - A better tone in the sterling has been fuelling the steep drop in EUR/GBP on Thursday, challenging daily troughs in the mid-0.7200s.
EUR/GBP in multi-day lows
The cross is retreating for the third consecutive session so far, prolonging the correction lower from recent peaks around 0.7390 amidst increasing jitters on the lack of progress in the EU-Greece debt negotiations.
In the meantime, the buying interest have now returned to the German Bunds, driving yields lower and thus removing a significant tailwind in the EUR-upside.
EUR/GBP key levels
As of writing the cross is down 0.64% at 0.7247 with the next support at 0.7215 (21-d MA) followed by 0.7200 (psychological level) and then 0.7183 (low Jun.2). On the other hand, a break above 0.7365 (high Jun.10) would open the door to 0.7387 (high Jun.4) ahead of 0.7400 (psychological level).
EUR/GBP in multi-day lows
The cross is retreating for the third consecutive session so far, prolonging the correction lower from recent peaks around 0.7390 amidst increasing jitters on the lack of progress in the EU-Greece debt negotiations.
In the meantime, the buying interest have now returned to the German Bunds, driving yields lower and thus removing a significant tailwind in the EUR-upside.
EUR/GBP key levels
As of writing the cross is down 0.64% at 0.7247 with the next support at 0.7215 (21-d MA) followed by 0.7200 (psychological level) and then 0.7183 (low Jun.2). On the other hand, a break above 0.7365 (high Jun.10) would open the door to 0.7387 (high Jun.4) ahead of 0.7400 (psychological level).