5 Aug 2015
EUR/GBP weaker below 0.7000
FXStreet (Edinburgh) - The offered tone in both the pound and he single currency has prompted EUR/GBP to break below the psychological support at 0.7000 late on Monday.
EUR/GBP attention to PMIs, US releases
The European cross is navigating the area of multi-day lows and remains in some sort of consolidative pattern below the 0.7000 handle on Tuesday, after hawkish comments by Atlanta Fed D.Lockhart have boosted the demand for the USD dollar in detriment of riskier assets.
Ahead in the session, Services PMIs in Euroland and the UK will take centre stage although the US calendar – with the ADP report and ISM Non-manufacturing – carries the potential to be more of a market mover today.
EUR/GBP key levels
At the moment the cross is losing 0.15% at 0.6981 facing the next support at 0.6963 (low Jul.22) followed by 0.6947 (low Jul.21) and finally 0.6936 (2015 low Jul.17). On the flip side, a beak above 0.7045 (high Aug.4) would open the door to 0.7102 (high Jul.23) and finally 0.7160 (high Jul.27).
EUR/GBP attention to PMIs, US releases
The European cross is navigating the area of multi-day lows and remains in some sort of consolidative pattern below the 0.7000 handle on Tuesday, after hawkish comments by Atlanta Fed D.Lockhart have boosted the demand for the USD dollar in detriment of riskier assets.
Ahead in the session, Services PMIs in Euroland and the UK will take centre stage although the US calendar – with the ADP report and ISM Non-manufacturing – carries the potential to be more of a market mover today.
EUR/GBP key levels
At the moment the cross is losing 0.15% at 0.6981 facing the next support at 0.6963 (low Jul.22) followed by 0.6947 (low Jul.21) and finally 0.6936 (2015 low Jul.17). On the flip side, a beak above 0.7045 (high Aug.4) would open the door to 0.7102 (high Jul.23) and finally 0.7160 (high Jul.27).