12 May 2015
EUR/GBP firmer, eyes on 0.7200
FXStreet (Edinburgh) - The recovery in the single currency is lifting EUR/GBP to the proximity of the key barrier at 0.7200 on Tuesday.
EUR/GBP attention to EcoFin, UK data
The cross is advancing further backed by the good performance of the euro during the European morning so far. Concerns over the situation in Greece seem to have diminished somewhat after Greece announced the €780m repayment to the IMF and the Eurogroup yielded a more constructive tone between the parties.
In the data space, UK’s Industrial and Manufacturing Production are due ahead of the GDP Estimate by NIESR, while the EcoFin meeting will also grab some attention.
EUR/GBP relevant levels
At the moment the cross is up 0.41% at 0.7187 and a break above 0.7200 (psychological level) would aim for 0.7243 (21-d MA) and finally 0.7257 (high May 11). On the downside, the immediate support lies at 0.7187 (low Apr.30) followed by 0.7138 (low Apr.29) and then 0.7118 (low Apr.23).
EUR/GBP attention to EcoFin, UK data
The cross is advancing further backed by the good performance of the euro during the European morning so far. Concerns over the situation in Greece seem to have diminished somewhat after Greece announced the €780m repayment to the IMF and the Eurogroup yielded a more constructive tone between the parties.
In the data space, UK’s Industrial and Manufacturing Production are due ahead of the GDP Estimate by NIESR, while the EcoFin meeting will also grab some attention.
EUR/GBP relevant levels
At the moment the cross is up 0.41% at 0.7187 and a break above 0.7200 (psychological level) would aim for 0.7243 (21-d MA) and finally 0.7257 (high May 11). On the downside, the immediate support lies at 0.7187 (low Apr.30) followed by 0.7138 (low Apr.29) and then 0.7118 (low Apr.23).