18 Feb 2015
EUR/GBP depressed around 0.7420
FXStreet (Edinburgh) - EUR/GBP is trading on the back footing on Wednesday, hovering over 0.7425/20 while waiting for releases in the UK economy.
EUR/GBP focus on BoE, UK jobs
Developments in Greece will be the main source of volatility in the cross from the EUR-side, while the key BoE minutes and critical releases in the UK labour market will impact on the pound. Prior surveys expect the Claimant Count Change to have decreased by 25.0K in January while the unemployment rate is seen unchanged at 5.8% in the three months ended in December.
EUR/GBP levels to consider
As of writing the cross is losing 0.11% at 0.7426 with the next support at 0.7410 (100h-MA) followed by 0.7372 (7-year low Feb.12) and then 0.7321 (low Jan.2008). On the other hand, a break above 0.7455 (high Feb.12) would expose 0.7459 (high Feb.9) and finally 0.7485 (21-d MA).
EUR/GBP focus on BoE, UK jobs
Developments in Greece will be the main source of volatility in the cross from the EUR-side, while the key BoE minutes and critical releases in the UK labour market will impact on the pound. Prior surveys expect the Claimant Count Change to have decreased by 25.0K in January while the unemployment rate is seen unchanged at 5.8% in the three months ended in December.
EUR/GBP levels to consider
As of writing the cross is losing 0.11% at 0.7426 with the next support at 0.7410 (100h-MA) followed by 0.7372 (7-year low Feb.12) and then 0.7321 (low Jan.2008). On the other hand, a break above 0.7455 (high Feb.12) would expose 0.7459 (high Feb.9) and finally 0.7485 (21-d MA).