Back
25 May 2015
EUR/GBP sidelining near 0.7100
FXStreet (Edinburgh) - The consolidative pattern in both the pound and the single currency is echoing in a flat-line scheme in EUR/GBP around the 0.7100 neighbourhood.
EUR/GBP hurt by USD
The continuation of the upside trend in the greenback keeps the demand for the riskier assets subdued at the beginning of the week, all amidst scarce activity and thin volatility due to holidays in several markets in Europe.
In fact, significant releases will be published on Thursday with another revisionof the UK GDP during the first quarter and EMU’s Business Climate and Consumer Confidence.
EUR/GBP key levels
At the moment the cross is down 0.17% at 0.7099 facing the next support at 0.7090 (low May 25) ahead of 0.7036 (low Mar.12) and finally 0.7015 (2015 low Mar.11). On the flip side, a breakout of 0.7117 (high May 25) would open the door to 0.7166 (high May 21) and then 0.7187 (high May 20).
EUR/GBP hurt by USD
The continuation of the upside trend in the greenback keeps the demand for the riskier assets subdued at the beginning of the week, all amidst scarce activity and thin volatility due to holidays in several markets in Europe.
In fact, significant releases will be published on Thursday with another revisionof the UK GDP during the first quarter and EMU’s Business Climate and Consumer Confidence.
EUR/GBP key levels
At the moment the cross is down 0.17% at 0.7099 facing the next support at 0.7090 (low May 25) ahead of 0.7036 (low Mar.12) and finally 0.7015 (2015 low Mar.11). On the flip side, a breakout of 0.7117 (high May 25) would open the door to 0.7166 (high May 21) and then 0.7187 (high May 20).