24 Feb 2016
EUR/GBP retakes 0.7900 and above
EUR/GBP remains on the upside today bolstered by the much softer tone around the British pound.
EUR/GBP in multi-month highs
The European cross has managed to clinch peaks above the 0.7900 handle today, levels last seen in December 2014, following an increasing offered tone hitting GBP backed by ‘Brexit’ jitters.
Nothing worth mentioning regarding data releases in the euro area today, while UK’s Mortgage Approvals have come in better than estimated during January. Later in the session, BoE’s J.Cunliffe will give a speech.
EUR/GBP key levels
The European cross is now up 0.42% at 0.7894 facing the next hurdle at 0.8000 (psychological level) followed by 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014). On the other hand, a breach of 0.7728 (20-day sma) would aim for 0.7694 (2-month uptrend) and finally 0.7523 (low Feb.3).
EUR/GBP in multi-month highs
The European cross has managed to clinch peaks above the 0.7900 handle today, levels last seen in December 2014, following an increasing offered tone hitting GBP backed by ‘Brexit’ jitters.
Nothing worth mentioning regarding data releases in the euro area today, while UK’s Mortgage Approvals have come in better than estimated during January. Later in the session, BoE’s J.Cunliffe will give a speech.
EUR/GBP key levels
The European cross is now up 0.42% at 0.7894 facing the next hurdle at 0.8000 (psychological level) followed by 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014). On the other hand, a breach of 0.7728 (20-day sma) would aim for 0.7694 (2-month uptrend) and finally 0.7523 (low Feb.3).