17 Mar 2015
EUR/GBP in highs near 0.7150
FXStreet (Edinburgh) - A bout of buying interest around the euro is now lifting EUR/GBP to fresh intraday peaks in the mid-0.7100s.
EUR/GBP focus on EMU data
The European cross managed to leave multi-year lows in the area of 0.7010 last week and is now looking to consolidate the recent surpass of 0.7100 the figure. However, the broader bearish tone surrounding the single currency could limit the occasional bullish attempts as well as the positive prospects from the sterling.
Next on tap will be the ZEW Survey and CPI releases in the euro area while the BoE minutes and UK’s labour market results are expected on Wednesday.
EUR/GBP levels to consider
At the moment the cross is up 0.22% at 0.7142 with the next up barrier at 0.7172 (high Mar.13) ahead of 0.7179 (high Mar.10) and finally 0.7220 (high Mar.9). On the downside, a drop beyond 0.7036 (low Mar.12) would expose 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level).
EUR/GBP focus on EMU data
The European cross managed to leave multi-year lows in the area of 0.7010 last week and is now looking to consolidate the recent surpass of 0.7100 the figure. However, the broader bearish tone surrounding the single currency could limit the occasional bullish attempts as well as the positive prospects from the sterling.
Next on tap will be the ZEW Survey and CPI releases in the euro area while the BoE minutes and UK’s labour market results are expected on Wednesday.
EUR/GBP levels to consider
At the moment the cross is up 0.22% at 0.7142 with the next up barrier at 0.7172 (high Mar.13) ahead of 0.7179 (high Mar.10) and finally 0.7220 (high Mar.9). On the downside, a drop beyond 0.7036 (low Mar.12) would expose 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level).