6 Apr 2015
EUR/GBP grinding lower to 0.7350
FXStreet (Edinburgh) - EUR/GBP is slowly marching lower at the beginning of the week, following the steady performances of the sterling and the euro.
EUR/GBP down from 0.7380
The European cross is correcting lower from recent peaks around 0.7380 posted soon after the miserable figures from March Payrolls in the US economy on Friday (126K act.). The cross is now looking to stabilize in the mid-0.7300s following the scarce activity in the markets amidst the observance of Easter Monday.
Next of relevance in the data space will be tomorrow’s Services PMI for the month of March in both the euro area (54.3 exp.) and the UK (57.0 exp.).
EUR/GBP levels to consider
As of writing the cross is retreating 0.08% at 0.7353 with the next support at 0.7327 (low Apr.3) ahead of 0.7257 (low Apr.2) and then 0.7222 (low Mar.31). On the upside, a break above 0.7379 (high Apr.3) would aim for 0.7385 (high Mar.25) and finally 0.7400 (psychological level).
EUR/GBP down from 0.7380
The European cross is correcting lower from recent peaks around 0.7380 posted soon after the miserable figures from March Payrolls in the US economy on Friday (126K act.). The cross is now looking to stabilize in the mid-0.7300s following the scarce activity in the markets amidst the observance of Easter Monday.
Next of relevance in the data space will be tomorrow’s Services PMI for the month of March in both the euro area (54.3 exp.) and the UK (57.0 exp.).
EUR/GBP levels to consider
As of writing the cross is retreating 0.08% at 0.7353 with the next support at 0.7327 (low Apr.3) ahead of 0.7257 (low Apr.2) and then 0.7222 (low Mar.31). On the upside, a break above 0.7379 (high Apr.3) would aim for 0.7385 (high Mar.25) and finally 0.7400 (psychological level).