30 Apr 2015
EUR/GBP off highs, back to 0.7240
FXStreet (Edinburgh) - After hitting fresh highs near 0.7270, EUR/GBP is now deflating to the 0.7245/40 band along with some EUR-softness.
EUR/GBP boosted by euro
The upside momentum in the single currency seems far from abated, advancing across the board and pushing the cross to challenge 3-week peaks near 0.7270. The offered tone around the US dollar remains the main driver behind the current upbeat momentum, with the cross practically ignoring disappointing results from retail sales and the labour market in Germany, and ‘in-line’ EMU CPI during April.
Next of relevance in the cross will be UK releases due tomorrow while Greece is back to the driver’s seat as the debt talks will resume today in Brussels.
EUR/GBP key levels
At the moment the cross is advancing 0.71% at 0.7244 with the next hurdle at 0.7269 (high Apr.30) ahead of 0.7278 (high Apr.19) and finally 0.7313 (high Apr.8). On the downside, a breach of 0.7184 (10-d MA) would expose 0.7138 (low Apr.29) and then 0.7132 (low Apr.28).
EUR/GBP boosted by euro
The upside momentum in the single currency seems far from abated, advancing across the board and pushing the cross to challenge 3-week peaks near 0.7270. The offered tone around the US dollar remains the main driver behind the current upbeat momentum, with the cross practically ignoring disappointing results from retail sales and the labour market in Germany, and ‘in-line’ EMU CPI during April.
Next of relevance in the cross will be UK releases due tomorrow while Greece is back to the driver’s seat as the debt talks will resume today in Brussels.
EUR/GBP key levels
At the moment the cross is advancing 0.71% at 0.7244 with the next hurdle at 0.7269 (high Apr.30) ahead of 0.7278 (high Apr.19) and finally 0.7313 (high Apr.8). On the downside, a breach of 0.7184 (10-d MA) would expose 0.7138 (low Apr.29) and then 0.7132 (low Apr.28).