20 Mar 2015
EUR/GBP inching higher to 0.7250
FXStreet (Edinburgh) - EUR/GBP is testing the area of session highs in the mid-0.7200s on Friday, following the better tone from the single currency.
EUR/GBP firmer amidst thin trade
The European cross is clinching higher ground against a backdrop of scant volatility in the global markets. The better performance from the single currency remains the main driver behind today’s upside, while the sterling remains flattish.
In the data front, German Producer Prices missed expectations during February and EMU’s Current Account advanced to €29.4 billion seasonally adjusted in January. In the British economy, Public Sector Net Borrowing came in at £6.21 billion during February.
EUR/GBP levels to watch
As of writing the cross is up 0.39% at 0.7254 with the next resistance at 0.7274 (high Mar.19) followed by 0.7301 (high Mar.2) and finally 0.7303 (50% of 0.7592-0.7015). On the downside, a drop beyond 0.7187 (100-h MA) would open the door to 0.7154 (low Mar.19) and then 0.7149 (200-h MA).
EUR/GBP firmer amidst thin trade
The European cross is clinching higher ground against a backdrop of scant volatility in the global markets. The better performance from the single currency remains the main driver behind today’s upside, while the sterling remains flattish.
In the data front, German Producer Prices missed expectations during February and EMU’s Current Account advanced to €29.4 billion seasonally adjusted in January. In the British economy, Public Sector Net Borrowing came in at £6.21 billion during February.
EUR/GBP levels to watch
As of writing the cross is up 0.39% at 0.7254 with the next resistance at 0.7274 (high Mar.19) followed by 0.7301 (high Mar.2) and finally 0.7303 (50% of 0.7592-0.7015). On the downside, a drop beyond 0.7187 (100-h MA) would open the door to 0.7154 (low Mar.19) and then 0.7149 (200-h MA).