23 Mar 2015
EUR/GBP in highs near 0.7250
FXStreet (Edinburgh) - EUR/GBP is clinching the mid-0.7200s, or session highs, bolstered by a softer tone from the sterling on Monday.
EUR/GBP bounces off 0.7230
The European cross managed to rebound from overnight troughs in the area of 0.7230 despite the offered tone in the risk-associated assets, advancing so far to the 0.7250/55 band.
Ahead in the day, the meeting between German Chancellor A.Merkel and Greek PM A.Tsipras will be the main highlight in an otherwise empty session in the data front. In the UK, Industrial Trends Survey by CBI will be the only event ahead of Tuesday’s more significant CPI releases.
EUR/GBP levels to consider
At the moment the cross is up 0.14% at 0.7248 with the next resistance at 0.7265 (high Mar.20) followed by 0.7274 (high Mar.19) and then 0.7289 (high Mar.18). On the downside, a break below 0.7224 (low Mar.20) would aim for 0.7221 (21-d MA) and finally 0.7215 (100-h MA).
EUR/GBP bounces off 0.7230
The European cross managed to rebound from overnight troughs in the area of 0.7230 despite the offered tone in the risk-associated assets, advancing so far to the 0.7250/55 band.
Ahead in the day, the meeting between German Chancellor A.Merkel and Greek PM A.Tsipras will be the main highlight in an otherwise empty session in the data front. In the UK, Industrial Trends Survey by CBI will be the only event ahead of Tuesday’s more significant CPI releases.
EUR/GBP levels to consider
At the moment the cross is up 0.14% at 0.7248 with the next resistance at 0.7265 (high Mar.20) followed by 0.7274 (high Mar.19) and then 0.7289 (high Mar.18). On the downside, a break below 0.7224 (low Mar.20) would aim for 0.7221 (21-d MA) and finally 0.7215 (100-h MA).