25 Feb 2016
EUR/GBP extends the upside above 0.7900
EUR/GBP has gained further upside momentum today, advancing beyond the 0.7900 bolstered by a bid tone around the shared currency.
EUR/GBP focus on UK, EMU data
The European cross is advancing uninterruptedly since Monday, rebounding from the vicinity of the 0.7700 handle and propped up by an increasing offered tone around the British pound as ‘Brexit’ jitters continue to weigh.
Nothing noteworthy from the EUR-side, which remains almost exclusively driven by risk trends and their link with crude oil dynamics.
Data wise in Euroland, final January CPI reading and credit figures are due later, while the preliminary Q4 GDP release will take centre stage across the Channel.
EUR/GBP key levels
The European cross is now up 0.18% at 0.7916 facing the next hurdle at 0.7977 (high Dec.1 2014) followed by 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014). On the other hand, a breach of 0.7744 (20-day sma) would aim for 0.7704 (2-month uptrend) and finally 0.7523 (low Feb.3).
EUR/GBP focus on UK, EMU data
The European cross is advancing uninterruptedly since Monday, rebounding from the vicinity of the 0.7700 handle and propped up by an increasing offered tone around the British pound as ‘Brexit’ jitters continue to weigh.
Nothing noteworthy from the EUR-side, which remains almost exclusively driven by risk trends and their link with crude oil dynamics.
Data wise in Euroland, final January CPI reading and credit figures are due later, while the preliminary Q4 GDP release will take centre stage across the Channel.
EUR/GBP key levels
The European cross is now up 0.18% at 0.7916 facing the next hurdle at 0.7977 (high Dec.1 2014) followed by 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014). On the other hand, a breach of 0.7744 (20-day sma) would aim for 0.7704 (2-month uptrend) and finally 0.7523 (low Feb.3).