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27 Jan 2015
EUR/GBP stabilizing near 0.7470
FXStreet (Edinburgh) - EUR/GBP has given away part of its initial gains on Tuesday, now navigating the area of 0.7470/60.
EUR/GBP capped by 0.7500/10
The area around 0.7500/10 still remains elusive for the European cross, as evidenced by today’s unsuccessful attempts to overcome that band despite the renewed EUR strength. While the single currency could not sustain its upside and is now in a sideline pattern, the pound managed to leave behind the disappointing Q4 GDP figures and is now extending the intraday rebound, relegating the cross to consolidate at current levels.
EUR/GBP levels to consider
At the moment the cross is up 0.18% at 0.7472 with the next hurdle at 0.7511 (high Jan.27) ahead of 0.7582 (high Jan.23) and then 0.7595 (10-d MA). On the downside, a break below 0.7406 (2015 low Jan.26) would aim for 0.7391 (low Jan.28 2008) and finally 0.7321 (monthly low Jan.2008).
EUR/GBP capped by 0.7500/10
The area around 0.7500/10 still remains elusive for the European cross, as evidenced by today’s unsuccessful attempts to overcome that band despite the renewed EUR strength. While the single currency could not sustain its upside and is now in a sideline pattern, the pound managed to leave behind the disappointing Q4 GDP figures and is now extending the intraday rebound, relegating the cross to consolidate at current levels.
EUR/GBP levels to consider
At the moment the cross is up 0.18% at 0.7472 with the next hurdle at 0.7511 (high Jan.27) ahead of 0.7582 (high Jan.23) and then 0.7595 (10-d MA). On the downside, a break below 0.7406 (2015 low Jan.26) would aim for 0.7391 (low Jan.28 2008) and finally 0.7321 (monthly low Jan.2008).