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27 May 2015
EUR/GBP in tight range near 0.7070
FXStreet (Edinburgh) - The better tone from the single currency and the sterling is allowing a tad improvement in EUR/GBP, moving to the vicinity of 0.7080.
EUR/GBP rebounded from 0.7060
After hitting the boundaries of 0.7100 the figure on Tuesday, the European cross staged a drop to the 0.7060 region, against a backdrop of an increasing bid tone around the greenback.
Despite the current bullish attempt, the cross remain subdued in the lower end of the weekly range and trading at shouting distance from ytd lows at 0.7015 posted in early March. There are no scheduled releases in Euroland or the UK leaving the cross to the mercy of the risk dynamics.
EUR/GBP relevant levels
The cross is now up 0.07% at 0.7073 with the next support at 0.7036 (low Mar.12) followed by 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level). On the flip side, a breakout of 0.7166 (high May 21) would open the door to 0.7180 (10-d MA) and then 0.7187 (high May 20).
EUR/GBP rebounded from 0.7060
After hitting the boundaries of 0.7100 the figure on Tuesday, the European cross staged a drop to the 0.7060 region, against a backdrop of an increasing bid tone around the greenback.
Despite the current bullish attempt, the cross remain subdued in the lower end of the weekly range and trading at shouting distance from ytd lows at 0.7015 posted in early March. There are no scheduled releases in Euroland or the UK leaving the cross to the mercy of the risk dynamics.
EUR/GBP relevant levels
The cross is now up 0.07% at 0.7073 with the next support at 0.7036 (low Mar.12) followed by 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level). On the flip side, a breakout of 0.7166 (high May 21) would open the door to 0.7180 (10-d MA) and then 0.7187 (high May 20).