7 May 2015
EUR/GBP reverses and drops toward 0.7400
FXStreet (Córdoba) - EUR/GBP reversed and erased losses. The pair reached earlier at 0.7485, the strongest level in three months but then pulled back sharply, falling toward 0.7400.
Recently printed a fresh daily low at 0.7402 and currently trades at 0.7410/15, down 0.30% for the day. While the pound remains volatile across the board amid a high volatility in GBP pairs on election day, the euro weakened across the board and hit also fresh lows versus the US dollar and the Swiss franc.
EUR/GBP technical levels
To the downside, immediate support levels might lie at 0.7400, 0.7365 (May 6 low), 0.7350 and 0.7310/15 (May 5 low). On the opposite direction, resistance could be located at 0.7450 (May 6 high), 0.7485 (daily high) and 0.7500.
Recently printed a fresh daily low at 0.7402 and currently trades at 0.7410/15, down 0.30% for the day. While the pound remains volatile across the board amid a high volatility in GBP pairs on election day, the euro weakened across the board and hit also fresh lows versus the US dollar and the Swiss franc.
EUR/GBP technical levels
To the downside, immediate support levels might lie at 0.7400, 0.7365 (May 6 low), 0.7350 and 0.7310/15 (May 5 low). On the opposite direction, resistance could be located at 0.7450 (May 6 high), 0.7485 (daily high) and 0.7500.