30 Jul 2015
EUR/GBP drops to lows near 0.7020
FXStreet (Edinburgh) - A softer tone in the shared currency is now dragging EUR/GBP to test daily lows in the 0.7020 area.
EUR/GBP weaker, eyes on EMU data
The European cross is extending its weekly decline as the euro is facing renewed selling pressure in response to yesterday’s FOMC statement, which keeps alive the possibility of a Fed’s lift-off in September.
In the data space, German unemployment and inflation figures area due, as well as Economic Sentiment and Business Climate in the broader euro bloc.
EUR/GBP key levels
As of writing the cross is retreating 0.24% at 0.7022 with the next support at 0.7017 (low Jul.30) ahead of 0.6989 (low Jul.23) and finally 0.6963 (low Jul.22). On the other hand, a surpass of 0.7150 (high Jul.27) would expose 0.7203 (high Jul.13) and then 0.7223 (high Jul.10).
EUR/GBP weaker, eyes on EMU data
The European cross is extending its weekly decline as the euro is facing renewed selling pressure in response to yesterday’s FOMC statement, which keeps alive the possibility of a Fed’s lift-off in September.
In the data space, German unemployment and inflation figures area due, as well as Economic Sentiment and Business Climate in the broader euro bloc.
EUR/GBP key levels
As of writing the cross is retreating 0.24% at 0.7022 with the next support at 0.7017 (low Jul.30) ahead of 0.6989 (low Jul.23) and finally 0.6963 (low Jul.22). On the other hand, a surpass of 0.7150 (high Jul.27) would expose 0.7203 (high Jul.13) and then 0.7223 (high Jul.10).