30 Mar 2015
EUR/GBP retreats from 0.7340
FXStreet (Edinburgh) - The current bout of selling interest around the euro has taken EUR/GBP from session highs in the 0.7340 area to the vicinity of 0.7310 so far.
EUR/GBP capped by 0.7390
The European cross is extending its correction lower after being rejected twice in the boundaries of the 0.7390 region last week, allowing a continuation of the descent to test the 0.7300 neighbourhood today.
Ahead in the day, credit figures, money supply and mortgage approvals will be the main highlights in the British economy, while German flash CPI and EMU’s Economic Sentiment will take centre stage in the euro area.
EUR/GBP levels to consider
As of writing the cross is losing 0.08% at 0.7309 and a breach of 0.7273 (10-d MA) would opne the door to 0.7266 (low Mar.27) and finally 0.7231 (21-d MA). On the flip side, the initial hurdle lines up at 0.7342 (high Mar.27) ahead of 0.7385 (high Mar.25) and finally 0.7404 (high Feb.23).
EUR/GBP capped by 0.7390
The European cross is extending its correction lower after being rejected twice in the boundaries of the 0.7390 region last week, allowing a continuation of the descent to test the 0.7300 neighbourhood today.
Ahead in the day, credit figures, money supply and mortgage approvals will be the main highlights in the British economy, while German flash CPI and EMU’s Economic Sentiment will take centre stage in the euro area.
EUR/GBP levels to consider
As of writing the cross is losing 0.08% at 0.7309 and a breach of 0.7273 (10-d MA) would opne the door to 0.7266 (low Mar.27) and finally 0.7231 (21-d MA). On the flip side, the initial hurdle lines up at 0.7342 (high Mar.27) ahead of 0.7385 (high Mar.25) and finally 0.7404 (high Feb.23).