22 Jul 2015
EUR/GBP testing lows near 0.7000
FXStreet (Edinburgh) - The downbeat sentiment around EUR/GBP seems to have gathering pace now, currently hovering over 0.7000 the figure.
EUR/GBP focus on Greece, BoE
The European cross has sparked a leg lower after hitting fresh tops in the mid-0.7000s on Tuesday following a sharp recovery in the euro. The subsequent resurgence of the bid tone around the sterling has prompted the cross to give away part of those gains and put it on track to test once again the psychological support at 0.7000.
Ahead in the session, the Greek Parliament will vote on another reforms package, while the BoE minutes are expected to confirm the recent hawkish comments by M.Carney and D.Miles, pointing to further strength in GBP.
EUR/GBP relevant levels
As of writing the cross is down 0.27% at 0.7011 with the next support at 0.7006 (low Jul22) followed by 0.6936 (low Jul.17) and then 0.6900 (psychological level). On the upside, a break above 0.7038 (high Jul.21) would expose 0.7068 (high Jul.15) and then 0.7202 (high Jul.13).
EUR/GBP focus on Greece, BoE
The European cross has sparked a leg lower after hitting fresh tops in the mid-0.7000s on Tuesday following a sharp recovery in the euro. The subsequent resurgence of the bid tone around the sterling has prompted the cross to give away part of those gains and put it on track to test once again the psychological support at 0.7000.
Ahead in the session, the Greek Parliament will vote on another reforms package, while the BoE minutes are expected to confirm the recent hawkish comments by M.Carney and D.Miles, pointing to further strength in GBP.
EUR/GBP relevant levels
As of writing the cross is down 0.27% at 0.7011 with the next support at 0.7006 (low Jul22) followed by 0.6936 (low Jul.17) and then 0.6900 (psychological level). On the upside, a break above 0.7038 (high Jul.21) would expose 0.7068 (high Jul.15) and then 0.7202 (high Jul.13).