10 Mar 2015
EUR/GBP pierces 0.7100
FXStreet (Edinburgh) - The persistent weakness around the common currency continues to weigh on EUR/GBP, dragging it to test fresh los just below the 0.7100 handle.
EUR/GBP in multi-year lows
The cross briefly recorded fresh lows around 0.7090, levels last seen in late November 2007. The euro remains under heavy selling pressure after the ECB’s quantitative easing programme kicked in yesterday. Recall that the programme involves monthly purchases of sovereign bonds worth €60 billion, until at least September 2016.
EUR/GBP key levels
At the moment the cross is down 1.05% at 0.7101 with the next support at 0.7095 (2015 low Mar.10) ahead of 0.7089 (monthly low Dec. 2007) and finally 0.7022 (monthly high Apr.2006). On the upside, a surpass of 0.7179 (hourly high Dec.10) would aim for 0.7220 (high Mar.9) and then 0.7238 (high Mar.6).
EUR/GBP in multi-year lows
The cross briefly recorded fresh lows around 0.7090, levels last seen in late November 2007. The euro remains under heavy selling pressure after the ECB’s quantitative easing programme kicked in yesterday. Recall that the programme involves monthly purchases of sovereign bonds worth €60 billion, until at least September 2016.
EUR/GBP key levels
At the moment the cross is down 1.05% at 0.7101 with the next support at 0.7095 (2015 low Mar.10) ahead of 0.7089 (monthly low Dec. 2007) and finally 0.7022 (monthly high Apr.2006). On the upside, a surpass of 0.7179 (hourly high Dec.10) would aim for 0.7220 (high Mar.9) and then 0.7238 (high Mar.6).