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29 May 2015
EUR/GBP: Bulls testing key level 0.7170/00
FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7187 with a high of 0.7200 and a low of 0.7139.
EUR/GBP has stalled at the psychological 0.72 handle, while the euro is performing with resilience to the upside across the board. Sterling has been on the offer and this is aiding the cross as well, while cable has continued on the downside since May highs as the greenback takes control again with interest rate differentials and the UK economy offering mixed results of late. There has been something of a minor recovery today in cable on the back of the PCE misses but the blow was softened by a slightly better GDP result.
Meanwhile and technically EUR/GBP is testing the key 0.7170/90 zone which is the accelerated downtrend and will make little impact on the chart while below the 0.7282 15th March high, as suggested by Karen Jones at Commerzbank this week.
EUR/GBP has stalled at the psychological 0.72 handle, while the euro is performing with resilience to the upside across the board. Sterling has been on the offer and this is aiding the cross as well, while cable has continued on the downside since May highs as the greenback takes control again with interest rate differentials and the UK economy offering mixed results of late. There has been something of a minor recovery today in cable on the back of the PCE misses but the blow was softened by a slightly better GDP result.
Meanwhile and technically EUR/GBP is testing the key 0.7170/90 zone which is the accelerated downtrend and will make little impact on the chart while below the 0.7282 15th March high, as suggested by Karen Jones at Commerzbank this week.