7 May 2015
EUR/GBP testing highs near 0.7450
FXStreet (Edinburgh) - The upside tone in the euro is helping EUR/GBP to clinch session highs around the mid-0.74s before the opening bell in Euroland.
EUR/GBP focus on data, UK elections
The pair continues its march north on Thursday backed by the solid performance of the single currency in the last sessions. In the meantime, the sterling will remain under pressure ahead of the general elections due today in the UK, with consensus pointing to a hung parliament.
In the data space, German Factory Orders expanded less than expected during March, 0.9% vs. 1.5% forecasted.
EUR/GBP key levels
At the moment the cross is up 0.12% at 0.7450 with the next resistance at 0.7455 (high Feb. 12) ahead of 0.7456 (76.4% of 0.7592-0.7015) and then 0.7459 (high Feb.9). On the flip side, a breakdown of 0.7431 (100-d MA) would aim for 0.7316 (low May 5) and finally 0.7310 (38.2% of 0.7132-0.7420).
EUR/GBP focus on data, UK elections
The pair continues its march north on Thursday backed by the solid performance of the single currency in the last sessions. In the meantime, the sterling will remain under pressure ahead of the general elections due today in the UK, with consensus pointing to a hung parliament.
In the data space, German Factory Orders expanded less than expected during March, 0.9% vs. 1.5% forecasted.
EUR/GBP key levels
At the moment the cross is up 0.12% at 0.7450 with the next resistance at 0.7455 (high Feb. 12) ahead of 0.7456 (76.4% of 0.7592-0.7015) and then 0.7459 (high Feb.9). On the flip side, a breakdown of 0.7431 (100-d MA) would aim for 0.7316 (low May 5) and finally 0.7310 (38.2% of 0.7132-0.7420).