29 Apr 2015
EUR/GBP testing lows near 0.7140
FXStreet (Edinburgh) - The firm tone from the sterling keeps gains limited in EUR/GBP so far, currently challenging session lows in the mid-0.7100s.
EUR/GBP attention to EMU releases
The pound quickly shrugged off the disappointing figures from the Q1 GDP releases yesterday, recovering the strength backed by a better tone from the risk-on space in detriment of the greenback.
Ahead in the session, a lack of relevant docket in the British economy will leave the attention to the publications across the Channel, where Economic Sentiment, Business Climate and April’s preliminary inflation figures in Germany will take centre stage ahead of the FOMC meeting due in the European evening.
EUR/GBP key levels
As of writing the cross is retreating 0.17% at 0.7146 with the immediate support at 0.7118 (low Apr.23) ahead of 0.7102 (76.4% of 0.7015-0.7385) and then 0.7093 (low Mar.16). On the other direction, a break above 0.7171 (high Apr.28) would open the door to 0.7206 (high Apr.22) and finally 0.7210 (high Apr.21).
EUR/GBP attention to EMU releases
The pound quickly shrugged off the disappointing figures from the Q1 GDP releases yesterday, recovering the strength backed by a better tone from the risk-on space in detriment of the greenback.
Ahead in the session, a lack of relevant docket in the British economy will leave the attention to the publications across the Channel, where Economic Sentiment, Business Climate and April’s preliminary inflation figures in Germany will take centre stage ahead of the FOMC meeting due in the European evening.
EUR/GBP key levels
As of writing the cross is retreating 0.17% at 0.7146 with the immediate support at 0.7118 (low Apr.23) ahead of 0.7102 (76.4% of 0.7015-0.7385) and then 0.7093 (low Mar.16). On the other direction, a break above 0.7171 (high Apr.28) would open the door to 0.7206 (high Apr.22) and finally 0.7210 (high Apr.21).