26 May 2015
EUR/GBP keeps lows near 0.7070
FXStreet (Edinburgh) - The persistent weakness around the single currency is relegating EUR/GBP to trade in the lower bound of the range near 0.7075/70 so far.
EUR/GBP hinges on risk appetite
Another session without relevant releases in Euroland and the UK will leave the cross to the mercy of the risk appetite trends, while more significant data in the US are poised to dominate the price action in the second half of the session.
In the meantime, the cross keeps the trade below the 0.7100 handle, retreating uninterruptedly since recent peaks near 0.7300 the figure and navigating in multi-week troughs.
EUR/GBP key levels
The cross is now losing 0.32% at 0.7073 with the next support at 0.7036 (low Mar.12) followed by 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level). On the flip side, a breakout of 0.7166 (high May 21) would open the door to 0.7180 (10-d MA) and then 0.7187 (high May 20).
EUR/GBP hinges on risk appetite
Another session without relevant releases in Euroland and the UK will leave the cross to the mercy of the risk appetite trends, while more significant data in the US are poised to dominate the price action in the second half of the session.
In the meantime, the cross keeps the trade below the 0.7100 handle, retreating uninterruptedly since recent peaks near 0.7300 the figure and navigating in multi-week troughs.
EUR/GBP key levels
The cross is now losing 0.32% at 0.7073 with the next support at 0.7036 (low Mar.12) followed by 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level). On the flip side, a breakout of 0.7166 (high May 21) would open the door to 0.7180 (10-d MA) and then 0.7187 (high May 20).