31 Jul 2015
EUR/GBP testing highs around 0.7030
FXStreet (Edinburgh) - A bout of buying interest in the single currency is now fuelling the upside in EUR/GBP to daily tops in the 0.7025/30 band.
EUR/GBP attention to EMU’s CPI
The European cross has found decent support in the 0.6990 area this week, coming down from Monday’s peaks around 0.7160 along with an increasing offered tone in the euro.
Today’s initial softer tone in the sterling is also collaborating with the bullish attempt in the cross, while market participants turn their focus to the flash CPI in the euro area during the current month due later.
EUR/GBP key levels
As of writing the cross is advancing 0.28% at 0.7029 with the next support at 0.7003 (low Jul.31) 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 attention to EMU’s CPI
The European cross has found decent support in the 0.6990 area this week, coming down from Monday’s peaks around 0.7160 along with an increasing offered tone in the euro.
Today’s initial softer tone in the sterling is also collaborating with the bullish attempt in the cross, while market participants turn their focus to the flash CPI in the euro area during the current month due later.
EUR/GBP key levels
As of writing the cross is advancing 0.28% at 0.7029 with the next support at 0.7003 (low Jul.31) 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).