18 Jun 2015
EUR/GBP & Greece: Bears taking control over Eurogroup meeting
FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7165 with a high of 0.7200 and a low of 0.7152.
EUR/GBP feeling a little pressure on the back of the conclusions of today's Eurogroup meeting with Greek officials, while there has been no progress made and the Eurogroup are urging the Greeks to come forward with their proposal and engage seriously with the negotiations before the end of the month, as it is now or never while the IMF are not budging on their 30th June deadline.
Meanwhile, Sterling continues to drift lower below the 1.59 handle but with the recent FOMC dovishness and prospects for a rate hike from the BoE before the 2% inflation is met, as suggested by BoE's Forbes yesterday while 2 of the members of the MPC are on the fence in respect to whether to vote for hike next vote around, supporting the pound as improvements on wages have been reported also.
EUR/GBP bulls resilient
Technically, the cross stays bearish while below the psychological 0.72 handle and the June lows come in o focus towards the 0.7127/23 (Fibo + 22nd April low) on further downside pressures.
EUR/GBP feeling a little pressure on the back of the conclusions of today's Eurogroup meeting with Greek officials, while there has been no progress made and the Eurogroup are urging the Greeks to come forward with their proposal and engage seriously with the negotiations before the end of the month, as it is now or never while the IMF are not budging on their 30th June deadline.
Meanwhile, Sterling continues to drift lower below the 1.59 handle but with the recent FOMC dovishness and prospects for a rate hike from the BoE before the 2% inflation is met, as suggested by BoE's Forbes yesterday while 2 of the members of the MPC are on the fence in respect to whether to vote for hike next vote around, supporting the pound as improvements on wages have been reported also.
EUR/GBP bulls resilient
Technically, the cross stays bearish while below the psychological 0.72 handle and the June lows come in o focus towards the 0.7127/23 (Fibo + 22nd April low) on further downside pressures.