13 Aug 2015
EUR/GBP holds bullish tone
FXStreet (Córdoba) - The euro dropped during the Asian and the European sessions against the pound but then reversed and erased losses. EUR/GBP bottomed at 0.7101 but then bounced to the upside.
After the beginning of the American session reached a fresh high at 0.7151 and then pulled back. It was trading at 0.7135/40, slightly lower for the day but still near the highest level in a month and holding a bullish tone.
The pair remains above an ascendant trendline originated at August lows that currently stands around 0.7110. The bias would continue to favor the upside in the short term as long as EUR/GBP remains above the mentioned line.
EZ data and Eurogroup
Tomorrow no economic data is due to be release in the United Kingdom while CPI and growth data form the Eurozone will be published. Investors will also pay attention to parliaments and the Eurogroup meeting regarding the Greek debt crisis.
After the beginning of the American session reached a fresh high at 0.7151 and then pulled back. It was trading at 0.7135/40, slightly lower for the day but still near the highest level in a month and holding a bullish tone.
The pair remains above an ascendant trendline originated at August lows that currently stands around 0.7110. The bias would continue to favor the upside in the short term as long as EUR/GBP remains above the mentioned line.
EZ data and Eurogroup
Tomorrow no economic data is due to be release in the United Kingdom while CPI and growth data form the Eurozone will be published. Investors will also pay attention to parliaments and the Eurogroup meeting regarding the Greek debt crisis.