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6 May 2015
EUR/GBP sidelined near 0.7390
FXStreet (Edinburgh) - The better tone around the single currency fueled the recent upside in EUR/GBP, now navigating the upper 0.7300s.
EUR/GBP focus on data
The risk appetite sentiment seems to have returned to the markets on Wednesday, despite the Chinese HSBC Services PMI missed expectations in April. The cross is now extending the upside following yesterday’s reversion and positive close, from lows in sub-0.7330 levels.
Ahead in the session, Services PMIs in Euroland and EMU’s Retail Sales will be the main highlights, while the ADP report will take centre stage across the pond.
EUR/GBP key levels
At the moment the cross is up 0.27% at 0.7389 with the next resistance at 0.7420 (high May 1) ahead of 0.7429 (high Feb.20) and then 0.7436 (100-d MA). On the flip side, a breakdown of 0.7316 (low May 5) would aim for 0.7310 (38.2% of 0.7132-07420) and finally 0.7302 (low May 1).
EUR/GBP focus on data
The risk appetite sentiment seems to have returned to the markets on Wednesday, despite the Chinese HSBC Services PMI missed expectations in April. The cross is now extending the upside following yesterday’s reversion and positive close, from lows in sub-0.7330 levels.
Ahead in the session, Services PMIs in Euroland and EMU’s Retail Sales will be the main highlights, while the ADP report will take centre stage across the pond.
EUR/GBP key levels
At the moment the cross is up 0.27% at 0.7389 with the next resistance at 0.7420 (high May 1) ahead of 0.7429 (high Feb.20) and then 0.7436 (100-d MA). On the flip side, a breakdown of 0.7316 (low May 5) would aim for 0.7310 (38.2% of 0.7132-07420) and finally 0.7302 (low May 1).