2 Feb 2015
EUR/GBP advances beyond 0.7500
FXStreet (Edinburgh) - EUR/GBP is hovering over 0.7510 on Monday, benefiting from the currently bout of selling orders around the pound.
EUR/GBP retakes 0.7500
The European cross has retaken the 0.7500 mark and above at the beginning of the week, following a softer tone from the sterling and quite a steady session in the single currency so far. After hitting fresh multi-year lows in the boundaries of the 0.7400 handle last week, the cross gathered traction and managed to return to the 0.7500 area although the prospects for further upside remain capped by the bearishness surrounding the euro.
Next of note in the cross will be the manufacturing PMIs in the euro bloc and the British economy, with mixed results on the cards according to prior surveys.
EUR/GBP levels to watch
As of writing the cross is up 0.11% at 0.7511 with the next hurdle at 0.7536 (high Jan.30) ahead of 0.7544 (10-d MA) and then 0.7582 (high Jan.23). On the flip side, a breach of 0.7443 (low Jan.29) would expose 0.7436 (low Jan.27) and finally 0.7406 (2015 low Jan.26).
EUR/GBP retakes 0.7500
The European cross has retaken the 0.7500 mark and above at the beginning of the week, following a softer tone from the sterling and quite a steady session in the single currency so far. After hitting fresh multi-year lows in the boundaries of the 0.7400 handle last week, the cross gathered traction and managed to return to the 0.7500 area although the prospects for further upside remain capped by the bearishness surrounding the euro.
Next of note in the cross will be the manufacturing PMIs in the euro bloc and the British economy, with mixed results on the cards according to prior surveys.
EUR/GBP levels to watch
As of writing the cross is up 0.11% at 0.7511 with the next hurdle at 0.7536 (high Jan.30) ahead of 0.7544 (10-d MA) and then 0.7582 (high Jan.23). On the flip side, a breach of 0.7443 (low Jan.29) would expose 0.7436 (low Jan.27) and finally 0.7406 (2015 low Jan.26).