13 Jul 2015
EUR/GBP drops from 0.7200 on deal
FXStreet (Edinburgh) - After hitting highs near 0.7200, EUR/GBP is now deflating to the 0.7180/85 band following the apparent deal between Greece and the EU institutions.
EUR/GBP focus on EU Summit
The cross has spiked to the 0.7200 level after rumours were citing that both parties have clinched a principle of an agreement after more than 17 hours of deliberation. Both the pound and the shared currency reacted positively after the news, taking the cross higher.
Nothing of note in the data space in the UK or Euroland will leave all the attention to the Greek front, where the next steps will now be parliamentary approval.
EUR/GBP key levels
At the moment the cross is down 0.24% at 0.7174 with the initial support at 0.7100 (psychological level) ahead of 0.7054 (low Jul.6) and finally 0.6988 (2015 low Jun.29). On the upside, a break above 0.7226 (high Jul.10) would aim for 0.7248 (high Jun.15) and then 0.7389 (high Jun.9).
EUR/GBP focus on EU Summit
The cross has spiked to the 0.7200 level after rumours were citing that both parties have clinched a principle of an agreement after more than 17 hours of deliberation. Both the pound and the shared currency reacted positively after the news, taking the cross higher.
Nothing of note in the data space in the UK or Euroland will leave all the attention to the Greek front, where the next steps will now be parliamentary approval.
EUR/GBP key levels
At the moment the cross is down 0.24% at 0.7174 with the initial support at 0.7100 (psychological level) ahead of 0.7054 (low Jul.6) and finally 0.6988 (2015 low Jun.29). On the upside, a break above 0.7226 (high Jul.10) would aim for 0.7248 (high Jun.15) and then 0.7389 (high Jun.9).