18 May 2015
EUR/GBP sidelined near 0.7270
FXStreet (Edinburgh) - EUR/GBP is extending the overnight consolidative pattern at the beginning of the week, navigating around 0.7265/70.
EUR/GBP attention to risk trends
There are no scheduled data releases or events in Euroland or the UK economy today, leaving the price action in the cross entirely depending on the risk sentiment trends.
In the meantime, market participants have quickly shrugged off the dovish tone from the BoE’s Quarterly Inflation Report last week, pushing sterling to fresh tops vs. the greenback, while the common currency remains vigilant on the unusual volatility in German Bunds, which has sustained the recent rally.
EUR/GBP relevant levels
At the moment the cross is down 0.03% at 0.7277 with the next support at 0.7246 (21-d MA) ahead of 0.7205 (low May 14) and then 0.7200 (psychological level). On the flip side, a breakout of 0.7282 (high May 15) would expose 0.7304 (daily cloud top) and then 0.7311 (high May 8).
EUR/GBP attention to risk trends
There are no scheduled data releases or events in Euroland or the UK economy today, leaving the price action in the cross entirely depending on the risk sentiment trends.
In the meantime, market participants have quickly shrugged off the dovish tone from the BoE’s Quarterly Inflation Report last week, pushing sterling to fresh tops vs. the greenback, while the common currency remains vigilant on the unusual volatility in German Bunds, which has sustained the recent rally.
EUR/GBP relevant levels
At the moment the cross is down 0.03% at 0.7277 with the next support at 0.7246 (21-d MA) ahead of 0.7205 (low May 14) and then 0.7200 (psychological level). On the flip side, a breakout of 0.7282 (high May 15) would expose 0.7304 (daily cloud top) and then 0.7311 (high May 8).