3 Feb 2015
EUR/GBP jumps to 0.7580
FXStreet (Edinburgh) - A bout of EUR-strength is pushing EUR/GBP to test multi-day peaks in the 0.7580 neighbourhood.
EUR/GBP boosted by Greek optimism
The cross rapidly picked up pace following comments by German Chancellor A.Merkel, stating that negotiations regarding the Greek debt situation could ‘drag on for months’. In the same line, recently appointed Greek finmin A.Varoufakis is expected to hold meetings with Juncker and Draghi this week, all against a backdrop of increasing optimism.
EUR/GBP significant levels
As of writing the cross is advancing 0.31% at 0.7569 and a surpass of 0.7600 (psychological level) would aim for 0.7639 (21-d MA) and then 0.7640 (50% of 0.7875-0.7406). On the flip side, the initial support aligns at 0.7524 (10-d MA) followed by 0.7479 (low Feb.2) and finally 0.7443 (low Jan.29).
EUR/GBP boosted by Greek optimism
The cross rapidly picked up pace following comments by German Chancellor A.Merkel, stating that negotiations regarding the Greek debt situation could ‘drag on for months’. In the same line, recently appointed Greek finmin A.Varoufakis is expected to hold meetings with Juncker and Draghi this week, all against a backdrop of increasing optimism.
EUR/GBP significant levels
As of writing the cross is advancing 0.31% at 0.7569 and a surpass of 0.7600 (psychological level) would aim for 0.7639 (21-d MA) and then 0.7640 (50% of 0.7875-0.7406). On the flip side, the initial support aligns at 0.7524 (10-d MA) followed by 0.7479 (low Feb.2) and finally 0.7443 (low Jan.29).