24 Jul 2015
EUR/GBP: consolidates upside advances
FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7071 with a high of 0.7093 and a low of 0.7053.
EUR/GBP is steady. The euro was strong in European markets yesterday after Athens were voting yes 229 and no 63 which secured enough votes to pass the second package of reforms for the bailout deal.
The EUR 86b package reforms have been approved in the last hour in Athens in order to repay the debts, recapitalize the banks and make interest payments and at the same time, the ECB has increased its emergency cash injection of EUR900m just hours before the voting took place. Meanwhile, the Eurozone July composite PMI's fell to 53.7 from 54.2 last month, according to flash estimates.
EUR/GBP Technically consolidating upside
The base of a 6 year channel at 0.6967 acts like a magnet and rallies are finding a tough time of a convincing break, leading to a chop and consolidation here while 0.7057/65 offers headwinds below the 0.7151 short term downtrend.
EUR/GBP is steady. The euro was strong in European markets yesterday after Athens were voting yes 229 and no 63 which secured enough votes to pass the second package of reforms for the bailout deal.
The EUR 86b package reforms have been approved in the last hour in Athens in order to repay the debts, recapitalize the banks and make interest payments and at the same time, the ECB has increased its emergency cash injection of EUR900m just hours before the voting took place. Meanwhile, the Eurozone July composite PMI's fell to 53.7 from 54.2 last month, according to flash estimates.
EUR/GBP Technically consolidating upside
The base of a 6 year channel at 0.6967 acts like a magnet and rallies are finding a tough time of a convincing break, leading to a chop and consolidation here while 0.7057/65 offers headwinds below the 0.7151 short term downtrend.