26 Aug 2015
EUR/GBP drops to lows near 0.7310
FXStreet (Edinburgh) - The weaker tone around the single currency is now dragging EUR/GBP to the area of daily lows around 0.7310.
EUR/GBP eyes on UK data
The pair is coming down from session tops near 0.7360 posted during the Asian trading hours, following the re-emergence of the risk-appetite and the subsequent offered tone in EUR.
Absent data releases in Euroland, market participants will focus their attention to Mortgage Approvals gauged by BBA and the Distributive Trades Survey conducted by CBI.
EUR/GBP levels to consider
At the moment the cross is losing 0.43% at 0.7310 facing the next support at 0.7291 (low Aug.24) followed by 0.7151 (low Aug.21) and then 0.7100 (psychological level). On the upside, a break above 0.7423 (high Aug.24) would aim for 0.7449 (high May 6) and then 0.7483 (high May 7).
EUR/GBP eyes on UK data
The pair is coming down from session tops near 0.7360 posted during the Asian trading hours, following the re-emergence of the risk-appetite and the subsequent offered tone in EUR.
Absent data releases in Euroland, market participants will focus their attention to Mortgage Approvals gauged by BBA and the Distributive Trades Survey conducted by CBI.
EUR/GBP levels to consider
At the moment the cross is losing 0.43% at 0.7310 facing the next support at 0.7291 (low Aug.24) followed by 0.7151 (low Aug.21) and then 0.7100 (psychological level). On the upside, a break above 0.7423 (high Aug.24) would aim for 0.7449 (high May 6) and then 0.7483 (high May 7).