17 Feb 2015
EUR/GBP: Losing a winning battle
FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7428 with a high of 0.7444 and a low of 0.7375.
EUR/GBP is starting to lose a winning battle with lower highs printing on the short-term charts in lower third of the 0.74 handle having risen from high 0.73's. Sterling was bid on the overnight data from the UK that came in the form of CPI and PPI's that arrived mixed while the euro has been set back on the uncertainty over Greece.
Technically, the pair remains within a bearish trend below 0.7712/67, as noted by Karen Jones, chief analyst at Commerzbank. In the bear term, 0.7440 acts as resistance ahead of 0.7840. 0.7380/70 and yearly lows come as near term support.
EUR/GBP is starting to lose a winning battle with lower highs printing on the short-term charts in lower third of the 0.74 handle having risen from high 0.73's. Sterling was bid on the overnight data from the UK that came in the form of CPI and PPI's that arrived mixed while the euro has been set back on the uncertainty over Greece.
Technically, the pair remains within a bearish trend below 0.7712/67, as noted by Karen Jones, chief analyst at Commerzbank. In the bear term, 0.7440 acts as resistance ahead of 0.7840. 0.7380/70 and yearly lows come as near term support.