Back
16 Mar 2015
EUR/GBP consolidates above 0.7100
FXStreet (Edinburgh) - The better tone in the common currency plus the steadiness around the sterling is allowing the current rebound in EUR/GBP to the area of 0.7130.
EUR/GBP focus on UK data, BoE
The BoE minutes and the critical job releases in the UK economy will set the tone for the cross via the GBP during the first half of the week, although the FOMC meeting on Wednesday will also prove to be key for the EUR.
It seems the cross is now trying to consolidate the rebound from recent multi-year troughs in the vicinity of 0.7000 the figure last week, managing to keep the trade above the 0.7100 handle so far.
EUR/GBP levels to watch
At the moment the cross is up 0.16% at 0.7132 with the next resistance at 0.7175 (high mar.13) followed by 0.7179 (high Mar.10) and then 0.7187 (10-d MA). On the downside, a breach of 0.7014 (2015 low Mar.11) would open the door to 0.7022 (monthly high Apr.2006) ahead of 0.7000 (psychological level).
EUR/GBP focus on UK data, BoE
The BoE minutes and the critical job releases in the UK economy will set the tone for the cross via the GBP during the first half of the week, although the FOMC meeting on Wednesday will also prove to be key for the EUR.
It seems the cross is now trying to consolidate the rebound from recent multi-year troughs in the vicinity of 0.7000 the figure last week, managing to keep the trade above the 0.7100 handle so far.
EUR/GBP levels to watch
At the moment the cross is up 0.16% at 0.7132 with the next resistance at 0.7175 (high mar.13) followed by 0.7179 (high Mar.10) and then 0.7187 (10-d MA). On the downside, a breach of 0.7014 (2015 low Mar.11) would open the door to 0.7022 (monthly high Apr.2006) ahead of 0.7000 (psychological level).