25 Mar 2015
EUR/GBP firmer, 0.7400 on sight
FXStreet (Edinburgh) - The upbeat momentum in the single currency is now pushing EUR/GBP higher on Wednesday, closer to the 0.7400 mark.
EUR/GBP boosted by euro
The shared currency is gaining further strength vs. the steady stance from the sterling, allowing the European cross to reach higher levels, currently challenging 5-week tops in the upper-0.7300s.
Auspicious prints from the German IFO for the month of March gave extra support to the euro, while pre-election uncertainty slowly started to weigh on the pound.
EUR/GBP key levels
As of writing the cross is up 0.13% at 0.7368 and a breakout of 0.7404 (high Feb.23) would open the door to 0.7429 (high Feb.20) and then 0.7443 (high Feb.17). On the downside, the immediate support lines up at 0.7304 (low Mar.24) ahead of 0.7289 (low Mar.18) and then 0.7235 (10-d MA).
EUR/GBP boosted by euro
The shared currency is gaining further strength vs. the steady stance from the sterling, allowing the European cross to reach higher levels, currently challenging 5-week tops in the upper-0.7300s.
Auspicious prints from the German IFO for the month of March gave extra support to the euro, while pre-election uncertainty slowly started to weigh on the pound.
EUR/GBP key levels
As of writing the cross is up 0.13% at 0.7368 and a breakout of 0.7404 (high Feb.23) would open the door to 0.7429 (high Feb.20) and then 0.7443 (high Feb.17). On the downside, the immediate support lines up at 0.7304 (low Mar.24) ahead of 0.7289 (low Mar.18) and then 0.7235 (10-d MA).