24 Mar 2015
EUR/GBP extends above 0.7300
FXStreet (Edinburgh) - The overnight pullback in EUR/GBP found decent support in the vicinity of 0.7300 the figure, with the cross now testing session highs beyond 0.7320.
EUR/GBP attention to EMU, UK data
The recent opposite forces driving the sterling and the euro have combined to lift the European cross beyond the 0.7300 handle for the first time in the last four weeks, after bottoming out near the psychological support at 0.7000.
Next of note in the cross will be the preliminary manufacturing and services PMIs in Euroland followed by key inflation figures in the UK economy.
EUR/GBP levels to consider
As of writing the cross is advancing 0.04% at 0.7323 facing the initial hurdle at 0.7348 (high Feb.24) ahead of 0.7404 (high Feb.223) and then 0.7429 (high Feb.20). On the downside, a break below 0.7229 (low Mar.23) would open the door to 0.7224 (low Mar.20) and finally 0.7178 (10-d MA).
EUR/GBP attention to EMU, UK data
The recent opposite forces driving the sterling and the euro have combined to lift the European cross beyond the 0.7300 handle for the first time in the last four weeks, after bottoming out near the psychological support at 0.7000.
Next of note in the cross will be the preliminary manufacturing and services PMIs in Euroland followed by key inflation figures in the UK economy.
EUR/GBP levels to consider
As of writing the cross is advancing 0.04% at 0.7323 facing the initial hurdle at 0.7348 (high Feb.24) ahead of 0.7404 (high Feb.223) and then 0.7429 (high Feb.20). On the downside, a break below 0.7229 (low Mar.23) would open the door to 0.7224 (low Mar.20) and finally 0.7178 (10-d MA).