11 Feb 2015
EUR/GBP in tight range near 0.7420
FXStreet (Edinburgh) - EUR/GBP is trading in the low-0.7400s today, meandering in a narrow range amidst a generalized lack of direction in the broader markets.
EUR/GBP focus on Greece, BoE
As the rest of the euro crosses today, EUR/GBP will remain vigilant of the developments from the extraordinary meeting of the Eurogroup, with the Greek debt in the centre of the debate.
Good performance of the sterling vs. the steadiness coming from the single currency has relegated the cross to the low-0.7400s as of late, although the BoE’s Quarterly Inflation Report due tomorrow will keep the cross under pressure.
EUR/GBP levels to watch
The cross is now advancing 0.04% at 0.7420 with the next up barrier at 0.8445 (high Feb.10) ahead of 0.7459 (high Feb.9) and finally 0.7478 (10-d MA). On the flip side, a breach of 0.7406 (2015 low Jan.26) would open the door to 0.7400 (psychological level) and then 0.7321 (61.8% of 0.5681-0.9805).
EUR/GBP focus on Greece, BoE
As the rest of the euro crosses today, EUR/GBP will remain vigilant of the developments from the extraordinary meeting of the Eurogroup, with the Greek debt in the centre of the debate.
Good performance of the sterling vs. the steadiness coming from the single currency has relegated the cross to the low-0.7400s as of late, although the BoE’s Quarterly Inflation Report due tomorrow will keep the cross under pressure.
EUR/GBP levels to watch
The cross is now advancing 0.04% at 0.7420 with the next up barrier at 0.8445 (high Feb.10) ahead of 0.7459 (high Feb.9) and finally 0.7478 (10-d MA). On the flip side, a breach of 0.7406 (2015 low Jan.26) would open the door to 0.7400 (psychological level) and then 0.7321 (61.8% of 0.5681-0.9805).