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15 May 2015
EUR/GBP testing lows near 0.7210
FXStreet (Edinburgh) - The initial softer tone from the euro is weighing on EUR/GBP now, dragging it to the lower end of the range near 0.7215/10.
EUR/GBP weaker on GBP-strength
The better performance of the sterling at the beginning of the session is forcing the cross to drop further to the area of session lows around 0.7210 amidst flat activity in both calendars from Euroland and the UK economy.
With the sell-off in the bond markets easing its pace, today’s releases in the US economy will remain the main driver for the risk-associated space ahead of next week’s ZEW Survey and inflation figures in the euro area and the British economy.
EUR/GBP relevant levels
At the moment the cross is down 0.20% at 0.7217 with the next support at 0.7200 (psychological level) ahead of 0.7123 (low May 13) and then 0.7118 (low Apr.23). ON the flip side, a breakout of 0.7239 (high May 15) would expose 0.7252 (daily cloud base) and then 0.7257 (high May 11).
EUR/GBP weaker on GBP-strength
The better performance of the sterling at the beginning of the session is forcing the cross to drop further to the area of session lows around 0.7210 amidst flat activity in both calendars from Euroland and the UK economy.
With the sell-off in the bond markets easing its pace, today’s releases in the US economy will remain the main driver for the risk-associated space ahead of next week’s ZEW Survey and inflation figures in the euro area and the British economy.
EUR/GBP relevant levels
At the moment the cross is down 0.20% at 0.7217 with the next support at 0.7200 (psychological level) ahead of 0.7123 (low May 13) and then 0.7118 (low Apr.23). ON the flip side, a breakout of 0.7239 (high May 15) would expose 0.7252 (daily cloud base) and then 0.7257 (high May 11).