17 Feb 2015
EUR/GBP clings to 0.7400
FXStreet (Edinburgh) - EUR/GBP is battling for the 0.7400 handle on Tuesday, following the releases of UK inflation figures and the ZEW Survey in the euro area.
EUR/GBP rebounds from multi-year lows
After bottoming out in levels last seen in December 2007 around 0.7370, the cross managed to clinch the 0.7400 handle supported by the renewed buying interest around the euro.
Previously, consumer prices in the UK economy gave further impetus to the sterling although its effects were eclipsed by the re-emergence of EUR strength sustained by the improvement in the ZEW Survey and fresh hopes of a deal between Greece and the Eurogroup officials.
EUR/GBP significant levels
As of writing the cross is up 0.35% at 0.7412 and a break above 0.7455 (high Feb.12) would aim for 0.7459 (high Feb.9) and finally 0.7510 (high Feb.5). On the opposite direction, the initial support aligns at 0.7372 (7-year low Feb.12) ahead of 0.7256 (61.8% of 0.5681-0.9805) and then 0.7200 (psychological level).
EUR/GBP rebounds from multi-year lows
After bottoming out in levels last seen in December 2007 around 0.7370, the cross managed to clinch the 0.7400 handle supported by the renewed buying interest around the euro.
Previously, consumer prices in the UK economy gave further impetus to the sterling although its effects were eclipsed by the re-emergence of EUR strength sustained by the improvement in the ZEW Survey and fresh hopes of a deal between Greece and the Eurogroup officials.
EUR/GBP significant levels
As of writing the cross is up 0.35% at 0.7412 and a break above 0.7455 (high Feb.12) would aim for 0.7459 (high Feb.9) and finally 0.7510 (high Feb.5). On the opposite direction, the initial support aligns at 0.7372 (7-year low Feb.12) ahead of 0.7256 (61.8% of 0.5681-0.9805) and then 0.7200 (psychological level).