25 Mar 2015
EUR/GBP off highs, back to 0.7350
FXStreet (Edinburgh) - The softer tone in the single currency is dragging EUR/GBP back to the mid-0.7300s after reaching intraday highs beyond 0.7360 overnight.
EUR/GBP focus on IFO
Expectations for small gains in today’s German release may lend some support to the euro amidst the prevailing flat conditions in the global markets. Another source of volatility could come from Greece, as rumours that the country could run out of money in early April have been building up amongst traders.
On the GBP-side of the equation, Mortgage Approvals gauged by BBA during February are due, with consensus pointing to 36.9K, up from 36.4K.
EUR/GBP key levels
As of writing the cross is losing 0.10% at 0.7351 with the next support at 0.7300 (psychological level) ahead of 0.7229 (low Mar.23) and then 0.7224 (low Mar.20). On the upside, a breakout of 0.7348 (high Feb.24) would expose 0.7404 (high Feb.23) and finally 0.7429 (high Feb.20).
EUR/GBP focus on IFO
Expectations for small gains in today’s German release may lend some support to the euro amidst the prevailing flat conditions in the global markets. Another source of volatility could come from Greece, as rumours that the country could run out of money in early April have been building up amongst traders.
On the GBP-side of the equation, Mortgage Approvals gauged by BBA during February are due, with consensus pointing to 36.9K, up from 36.4K.
EUR/GBP key levels
As of writing the cross is losing 0.10% at 0.7351 with the next support at 0.7300 (psychological level) ahead of 0.7229 (low Mar.23) and then 0.7224 (low Mar.20). On the upside, a breakout of 0.7348 (high Feb.24) would expose 0.7404 (high Feb.23) and finally 0.7429 (high Feb.20).