3 Jul 2015
EUR/GBP through 0.7100, PMIs eyed
FXStreet (Edinburgh) - EUR/GBP is inching higher on Friday, propped up by the slightly better sentiment towards the riskier assets.
EUR/GBP attention to UK, EMU data
The price action in the European cross does not tell much as of late, with both the sterling and the single currency sidelining in a broader flattish context. In the meantime, the final figures of the Services PMIs in Euroland and the UK will remain the only releases of note today, while markets are poised to extend the consolidative pattern ahead of the Greek referendum on Sunday.
The cross continues to struggle to close the week with gains after three consecutive pullbacks following the rejection of 4-month tops near 0.7490 in May.
EUR/GBP key levels
At the moment the pair is advancing 0.08% at 0.7109 with the next hurdle at 0.7127 (high Jun.30) ahead of 0.7168 (high Jun.29) and finally 0.7211 (high Jun.22). On the other hand, a break below 0.7071 (low Jul.2) would expose 0.6988 (2015 low Jun.29) and then 0.6900 (psychological level).
EUR/GBP attention to UK, EMU data
The price action in the European cross does not tell much as of late, with both the sterling and the single currency sidelining in a broader flattish context. In the meantime, the final figures of the Services PMIs in Euroland and the UK will remain the only releases of note today, while markets are poised to extend the consolidative pattern ahead of the Greek referendum on Sunday.
The cross continues to struggle to close the week with gains after three consecutive pullbacks following the rejection of 4-month tops near 0.7490 in May.
EUR/GBP key levels
At the moment the pair is advancing 0.08% at 0.7109 with the next hurdle at 0.7127 (high Jun.30) ahead of 0.7168 (high Jun.29) and finally 0.7211 (high Jun.22). On the other hand, a break below 0.7071 (low Jul.2) would expose 0.6988 (2015 low Jun.29) and then 0.6900 (psychological level).