14 Jul 2015
EUR/GBP off highs, back to 0.7120
FXStreet (Edinburgh) - EUR/GBP is now following the better tone in the single currency, although the upside seems to have run out of legs in session highs near 0.7140 so far.
EUR/GBP muted on poor ZEW
The European cross remained apathetic after the mixed-to-negative prints from the ZEW Survey in Germany and Euroland, with Economic Sentiment in both prints missing expectations.
Further data saw EMU’s Industrial Production coming in below consensus during May, contracting 0.4% inter-month and expanding 1.6% on a yearly basis.
EUR/GBP key levels
At the moment the cross is up 0.16% at 0.7120 and a break above 0.7226 (high Jul.10) would aim for 0.7248 (high Jun.15) and then 0.7389 (high Jun.9). On the other hand, the next support lines up at 0.7091 (low Jul.14) ahead of 0.7054 (low Jul.6) and finally 0.6988 (2015 low Jun.29).
EUR/GBP muted on poor ZEW
The European cross remained apathetic after the mixed-to-negative prints from the ZEW Survey in Germany and Euroland, with Economic Sentiment in both prints missing expectations.
Further data saw EMU’s Industrial Production coming in below consensus during May, contracting 0.4% inter-month and expanding 1.6% on a yearly basis.
EUR/GBP key levels
At the moment the cross is up 0.16% at 0.7120 and a break above 0.7226 (high Jul.10) would aim for 0.7248 (high Jun.15) and then 0.7389 (high Jun.9). On the other hand, the next support lines up at 0.7091 (low Jul.14) ahead of 0.7054 (low Jul.6) and finally 0.6988 (2015 low Jun.29).