8 Apr 2015
EUR/GBP dips to lows near 0.7270
FXStreet (Edinburgh) - The good pace of the sterling is now dragging EUR/GBP back below the 0.7300 handle, or fresh session lows.
EUR/GBP in multi-day lows
The cross is accelerating its weekly decline, now retreating for the third consecutive session and returning to the area around 0.7270 following the strong bid tone in the pound and the somewhat steady performance of the single currency.
In the data space, German Factory Orders came in below estimates while EMU’s retail sales contracted 0.2% on a monthly basis in March. In the UK docket, the Housing Price Balance by RICS is due later.
EUR/GBP key levels
At the moment the cross is losing 0.27% at 0.7283 with the next support at 0.7257 (low Apr.2) ahead of 0.7222 (low Mar.31) and then 0.7200 (psychological level). ON the upside, a break above 0.7379 (high Apr.3) would aim for 0.7385 (high Mar.25) and finally 0.7400 (psychological level).
EUR/GBP in multi-day lows
The cross is accelerating its weekly decline, now retreating for the third consecutive session and returning to the area around 0.7270 following the strong bid tone in the pound and the somewhat steady performance of the single currency.
In the data space, German Factory Orders came in below estimates while EMU’s retail sales contracted 0.2% on a monthly basis in March. In the UK docket, the Housing Price Balance by RICS is due later.
EUR/GBP key levels
At the moment the cross is losing 0.27% at 0.7283 with the next support at 0.7257 (low Apr.2) ahead of 0.7222 (low Mar.31) and then 0.7200 (psychological level). ON the upside, a break above 0.7379 (high Apr.3) would aim for 0.7385 (high Mar.25) and finally 0.7400 (psychological level).