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28 May 2015
EUR/GBP sidelined around 0.7100
FXStreet (Edinburgh) - The recovery in the shared currency allowed EUR/GBP to recover the 0.7100 handle on Thursday.
EUR/GBP focus on data
After a brief adventure to lows around 0.7060 on Wednesday, the European cross has managed to stage a comeback following the increasing optimism around a deal between Greek and its EU peers in the upcoming days.
In the data front, UK’s preliminary GDP figures during the first quarter will take centre stage followed by EMU’s Consumer Confidence, Economic Sentiment and the Financial Stability Review.
EUR/GBP key levels
At the moment the cross is up 0.03% at 0.7102 with the next resistance at 0.7166 (high May 21) ahead of 0.7180 (10-d MA) and then 0.7187 (high May 20). On the downside, a break below 0.7036 (low Mar.12) would expose 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level).
EUR/GBP focus on data
After a brief adventure to lows around 0.7060 on Wednesday, the European cross has managed to stage a comeback following the increasing optimism around a deal between Greek and its EU peers in the upcoming days.
In the data front, UK’s preliminary GDP figures during the first quarter will take centre stage followed by EMU’s Consumer Confidence, Economic Sentiment and the Financial Stability Review.
EUR/GBP key levels
At the moment the cross is up 0.03% at 0.7102 with the next resistance at 0.7166 (high May 21) ahead of 0.7180 (10-d MA) and then 0.7187 (high May 20). On the downside, a break below 0.7036 (low Mar.12) would expose 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level).