7 Apr 2015
EUR/GBP testing lows near 0.7320
FXStreet (Edinburgh) - A softer tone in the shared currency is now prompting EUR/GBP to visit intraday lows in the 0.7320 area.
EUR/GBP attention to EMU, UK data
While activity is slowly returning to the markets on Tuesday, the European cross will keep an eye on the Services PMIs releases in Euroland and the UK economy as the main drivers for the near term price action. Market consensus expects PMIs to come in slightly above February’s results, while the Sentix index would tick higher for the present month.
EUR/GBP levels to watch
At the moment the cross is down 0.04% at 0.7334 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 breakout of 0.7379 (high Apr.3) would aim for 0.7385 (high Mar.25) and finally 0.7400 (psychological level).
EUR/GBP attention to EMU, UK data
While activity is slowly returning to the markets on Tuesday, the European cross will keep an eye on the Services PMIs releases in Euroland and the UK economy as the main drivers for the near term price action. Market consensus expects PMIs to come in slightly above February’s results, while the Sentix index would tick higher for the present month.
EUR/GBP levels to watch
At the moment the cross is down 0.04% at 0.7334 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 breakout of 0.7379 (high Apr.3) would aim for 0.7385 (high Mar.25) and finally 0.7400 (psychological level).