7 May 2015
EUR/GBP: Better offered testing below 0.74 handle
FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7391 with a high of 0.7483 and a low of 0.7391.
EUR/GBP has been drifting to the downside as Sterling remains better bid and weighs on the 0.74 handle in the cross while the euro is faltering on attempts to the upside and has been sold off from a touch below the 1.14 handle down to test the 1.1250 region along with a decent set of Initial Jobless Claims data from the US ahead of tomorrows Nonfarm Payrolls, supporting the US dollar.
Meanwhile, we head towards the results of the elections in the UK today and overnight with a clearer picture of the voting outcome not emerging until around 4:00-5:00 GMT. Technically, EUR/GBP has eroded down through the 38.2% Fibonacci retracement at 0.7416 and this offers a bearish signal where targets may be towards support at circa 0.7323 while resistance on the upside remains at circa 0.7489.
EUR/GBP has been drifting to the downside as Sterling remains better bid and weighs on the 0.74 handle in the cross while the euro is faltering on attempts to the upside and has been sold off from a touch below the 1.14 handle down to test the 1.1250 region along with a decent set of Initial Jobless Claims data from the US ahead of tomorrows Nonfarm Payrolls, supporting the US dollar.
Meanwhile, we head towards the results of the elections in the UK today and overnight with a clearer picture of the voting outcome not emerging until around 4:00-5:00 GMT. Technically, EUR/GBP has eroded down through the 38.2% Fibonacci retracement at 0.7416 and this offers a bearish signal where targets may be towards support at circa 0.7323 while resistance on the upside remains at circa 0.7489.