1 Mar 2016
EUR/GBP decline halted near 0.7750
The daily pullback in EUR/GBP seems to have found support around the 0.7750 area so far.
EUR/GBP lower on GBP-buying
The better sentiment around riskier assets plus a solid performance from the British pound has been weighing on the European cross since early morning, prompting sellers to step in and drag the pair to multi-day troughs near 0.7750.
Mixed results from manufacturing PMIs in Euroland and a disappointing figure from the UK’s PMI have been practically ignored by traders, leaving the cross to the mercy of the broader risk appetite trends.
EUR/GBP key levels
The European cross is now losing 0.51% at 0.7776 facing the next support at 0.7756 (2-month uptrend) ahead of 0.7523 (low Feb.3). On the flip side, a breakout of 0.7977 (high Dec.1 2014) would expose 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014).
EUR/GBP lower on GBP-buying
The better sentiment around riskier assets plus a solid performance from the British pound has been weighing on the European cross since early morning, prompting sellers to step in and drag the pair to multi-day troughs near 0.7750.
Mixed results from manufacturing PMIs in Euroland and a disappointing figure from the UK’s PMI have been practically ignored by traders, leaving the cross to the mercy of the broader risk appetite trends.
EUR/GBP key levels
The European cross is now losing 0.51% at 0.7776 facing the next support at 0.7756 (2-month uptrend) ahead of 0.7523 (low Feb.3). On the flip side, a breakout of 0.7977 (high Dec.1 2014) would expose 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014).