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23 Apr 2015
EUR/GBP flat lined around 0.7120
FXStreet (Edinburgh) - EUR/GBP is following the softer tone from the euro and the sterling on Thursday, currently consolidating in a very narrow range near 0.7120.
EUR/GBP focus on UK, EMU data
It should be a quite interesting session for the cross, as the preliminary prints from the manufacturing and services PMIs are due in the euro area while Retail Sales will be the main event in the UK economy. Prior surveys expect a generalized improvement from the PMIs while retail sales are expected to expand at a slower pace during March, probably adding some selling interest to GBP.
EUR/GBP important levels
As of writing the cross is losing 0.06% at 0.7129 and a drop below 0.7100 (psychological level) would aim for 0.7093 (low Mar.16) and then 0.7065 (hourly low Mar.12). On the other side, the immediate up-barrier lies at 0.7165 (low Apr.16) followed by 0.7194 (10-d MA) and finally 0.7206 (high Apr.22).
EUR/GBP focus on UK, EMU data
It should be a quite interesting session for the cross, as the preliminary prints from the manufacturing and services PMIs are due in the euro area while Retail Sales will be the main event in the UK economy. Prior surveys expect a generalized improvement from the PMIs while retail sales are expected to expand at a slower pace during March, probably adding some selling interest to GBP.
EUR/GBP important levels
As of writing the cross is losing 0.06% at 0.7129 and a drop below 0.7100 (psychological level) would aim for 0.7093 (low Mar.16) and then 0.7065 (hourly low Mar.12). On the other side, the immediate up-barrier lies at 0.7165 (low Apr.16) followed by 0.7194 (10-d MA) and finally 0.7206 (high Apr.22).