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13 Mar 2015
EUR/GBP in lows around 0.7120
FXStreet (Edinburgh) - The renewed weakness around the euro is now dragging EUR/GBP to the lower bound of the range in the area of 0.7120.
EUR/GBP clings to 0.7100
The European cross is managing to keep the trade above the 0.7100 handle so far, rebounding from multi-year lows in the 0.7010 band posted on Wednesday. Empty docket in the UK economy and just second-tier releases in Euroland will mainly leave the cross to the mercy of the risk appetite sentiment, which appears quite depressed today, with both sterling and euro retreating vs. the US dollar.
EUR/GBP levels to watch
At the moment the cross is down 0.35% at 0.7121 with the next support at 0.7014 (2015 low Mar.11) followed by 0.7022 (monthly high Apr.2006) ahead of 0.7000 (psychological level). On the upside, a breakout of 0.7147 (high mar.12) would expose 0.7179 (high Mar.10) and finally 0.7187 (10-d MA).
EUR/GBP clings to 0.7100
The European cross is managing to keep the trade above the 0.7100 handle so far, rebounding from multi-year lows in the 0.7010 band posted on Wednesday. Empty docket in the UK economy and just second-tier releases in Euroland will mainly leave the cross to the mercy of the risk appetite sentiment, which appears quite depressed today, with both sterling and euro retreating vs. the US dollar.
EUR/GBP levels to watch
At the moment the cross is down 0.35% at 0.7121 with the next support at 0.7014 (2015 low Mar.11) followed by 0.7022 (monthly high Apr.2006) ahead of 0.7000 (psychological level). On the upside, a breakout of 0.7147 (high mar.12) would expose 0.7179 (high Mar.10) and finally 0.7187 (10-d MA).