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Trading news
17 Apr 2015
EUR/GBP sidelined above 0.7200
FXStreet (Edinburgh) - EUR/GBP is navigating in a very tight range on Friday, following the consolidative stances in both the euro and the pound.
EUR/GBP attention to UK, EMU data
The European cross is retreating for the second consecutive week so far, coming down from March peaks around 0.7380, although sellers failed to push the cross beyond the 0.7170 area so far.
While Greece and the UK elections remain the immediate threats to the cross, today’s UK labour market releases will keep the sterling under pressure. Prior surveys expect the Claimant Count Change to have decreased by 28K during March and the unemployment rate is expected at 5.6% in the three months ended in March.
EUR/GBP relevant levels
At the moment the cross is advancing 0.02% at 0.7208 and a break below 0.7156 (61.8% of 0.7015-0.7385) would expose 0.7154 (low Mar.19) and then 0.7100 (psychological level). On the flip side, the initial hurdle aligns at 0.7270 (high Apr.10) followed by 0.7279 (21-d MA) and finally 0.7281 (10-d MA).
EUR/GBP attention to UK, EMU data
The European cross is retreating for the second consecutive week so far, coming down from March peaks around 0.7380, although sellers failed to push the cross beyond the 0.7170 area so far.
While Greece and the UK elections remain the immediate threats to the cross, today’s UK labour market releases will keep the sterling under pressure. Prior surveys expect the Claimant Count Change to have decreased by 28K during March and the unemployment rate is expected at 5.6% in the three months ended in March.
EUR/GBP relevant levels
At the moment the cross is advancing 0.02% at 0.7208 and a break below 0.7156 (61.8% of 0.7015-0.7385) would expose 0.7154 (low Mar.19) and then 0.7100 (psychological level). On the flip side, the initial hurdle aligns at 0.7270 (high Apr.10) followed by 0.7279 (21-d MA) and finally 0.7281 (10-d MA).