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31 Mar 2015
EUR/GBP keeps lows near 0.7250
FXStreet (Edinburgh) - The softer tone surrounding the single currency is confining EUR/GBP to trade in the lower bound of the daily range near 0.7250.
EUR/GBP down from 0.7320
The cross is retreating for the fourth consecutive session so far, after being rejected from the 0.7390 neighbourhood last week. The increasing offered tone in the euro due to the lack of any progress in the debt negotiations between Greece and its EU peers continue to take a toll on the cross, testing now multi-day troughs in the mid-0.7300s.
Auspicious results from the UK GDP during Q4 and the German labour market during February did little to nothing to curb the selling sentiment, leaving the door open for further pullbacks.
EUR/GBP key levels
As of writing the cross is retreating 0.66% at 0.7265 with the immediate support at 0.7233 (21-d MA) ahead of 0.7229 (low Mar.23) and finally 0.7200 (psychological level).. On the upside, a break above 0.7342 (high Mar.27) would aim for 0.7385 (high Mar.25) and then 0.7404 (high Feb.23).
EUR/GBP down from 0.7320
The cross is retreating for the fourth consecutive session so far, after being rejected from the 0.7390 neighbourhood last week. The increasing offered tone in the euro due to the lack of any progress in the debt negotiations between Greece and its EU peers continue to take a toll on the cross, testing now multi-day troughs in the mid-0.7300s.
Auspicious results from the UK GDP during Q4 and the German labour market during February did little to nothing to curb the selling sentiment, leaving the door open for further pullbacks.
EUR/GBP key levels
As of writing the cross is retreating 0.66% at 0.7265 with the immediate support at 0.7233 (21-d MA) ahead of 0.7229 (low Mar.23) and finally 0.7200 (psychological level).. On the upside, a break above 0.7342 (high Mar.27) would aim for 0.7385 (high Mar.25) and then 0.7404 (high Feb.23).