13 Aug 2015
EUR/GBP within range on German data
FXStreet (Edinburgh) - The softer tone in the shared currency is driving EUR/GBP lower on Thursday, albeit it manages to keep the trade above the 0.7100 handle so far.
EUR/GBP capped around 0.7170
The weekly upside of the European cross seems to have found a tough barrier in the vicinity of 0.7170, with sellers stepping in today as EUR-bulls are taking a breather. The cross paid no attention to the final German inflation figures during July, rising 0.2% MoM and 0.2% on a yearly basis.
Ahead in the session, French and Spanish final CPIs will precede the ECB Accounts, all ahead US Retail Sales and Initial Claims.
EUR/GBP key levels
At the moment the cross is down 0.20% at 0.7133 with the next resistance at 0.7160 (high Aug.13) followed by 0.7202 (high Jul.13) and then 0.7223 (high Jul.10). On the other hand, a breach of 0.7039 (low Aug.11) would aim for 0.7016 (low Aug.7) and finally 0.7003 (low Jul.31).
EUR/GBP capped around 0.7170
The weekly upside of the European cross seems to have found a tough barrier in the vicinity of 0.7170, with sellers stepping in today as EUR-bulls are taking a breather. The cross paid no attention to the final German inflation figures during July, rising 0.2% MoM and 0.2% on a yearly basis.
Ahead in the session, French and Spanish final CPIs will precede the ECB Accounts, all ahead US Retail Sales and Initial Claims.
EUR/GBP key levels
At the moment the cross is down 0.20% at 0.7133 with the next resistance at 0.7160 (high Aug.13) followed by 0.7202 (high Jul.13) and then 0.7223 (high Jul.10). On the other hand, a breach of 0.7039 (low Aug.11) would aim for 0.7016 (low Aug.7) and finally 0.7003 (low Jul.31).