25 Jun 2015
EUR/GBP testing lows near 0.7120
FXStreet (Edinburgh) - The recent resilient tone around the sterling has kept the demand for EUR/GBP subdued, hurt as well by the downside pressure around the euro.
EUR/GBP focus still on Greece
Absent relevant news, let alone solid prospects of a deal between Greece and its EU peers, the cross is expected to follow a sideline pattern pending cues on the developments coming from Greece and the upcoming Eurogroup meeting due in the European afternoon.
In the meantime, the cross seems to have found support in the 0.7090/0.7140 band, coming down from June peaks in the area of 0.7390.
EUR/GBP key levels
At the moment the cross is losing 0.06% at 0.7130 with the next support at 0.7081 (low Jun.23) followed by 0.7057 (low May 27) and finally 0.7000 (psychological level). On the other hand, a surpass of 0.7178 (high Jun.23) would open the door to 0.7179 (10-d MA) and then 0.7211 (high Jun.22).
EUR/GBP focus still on Greece
Absent relevant news, let alone solid prospects of a deal between Greece and its EU peers, the cross is expected to follow a sideline pattern pending cues on the developments coming from Greece and the upcoming Eurogroup meeting due in the European afternoon.
In the meantime, the cross seems to have found support in the 0.7090/0.7140 band, coming down from June peaks in the area of 0.7390.
EUR/GBP key levels
At the moment the cross is losing 0.06% at 0.7130 with the next support at 0.7081 (low Jun.23) followed by 0.7057 (low May 27) and finally 0.7000 (psychological level). On the other hand, a surpass of 0.7178 (high Jun.23) would open the door to 0.7179 (10-d MA) and then 0.7211 (high Jun.22).