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13 Mar 2015
EUR/GBP off highs, back to 0.7140
FXStreet (Edinburgh) - After hitting daily peaks around 0.7170 during the European afternoon, EUR/GBP is now deflating to the 0.7145/40 band.
EUR/GBP firmer as GBP tanks
The pair is trading on a firmer footing, leaving behind recent lows and advancing to the upper-0.7100s following the sharp sell off in the pound. The sterling is markedly lower across the board (in fresh 20-month lows vs. the greenback) in response to dovish appreciations by Governor Mark Carney on Thursday, whereas the intraday drop in the single currency is somehow more gradual.
EUR/GBP levels to watch
At the moment the cross is down 0.10% at 0.7139 with the next support at 0.7014 (2015 low Mar.11) followed by 0.7022 (monthly high Apr.2006) ahead of 0.7000 (psychological level). On the upside, a breakout of 0.7175 (high mar.13) would expose 0.7179 (high Mar.10) and finally 0.7187 (10-d MA).
EUR/GBP firmer as GBP tanks
The pair is trading on a firmer footing, leaving behind recent lows and advancing to the upper-0.7100s following the sharp sell off in the pound. The sterling is markedly lower across the board (in fresh 20-month lows vs. the greenback) in response to dovish appreciations by Governor Mark Carney on Thursday, whereas the intraday drop in the single currency is somehow more gradual.
EUR/GBP levels to watch
At the moment the cross is down 0.10% at 0.7139 with the next support at 0.7014 (2015 low Mar.11) followed by 0.7022 (monthly high Apr.2006) ahead of 0.7000 (psychological level). On the upside, a breakout of 0.7175 (high mar.13) would expose 0.7179 (high Mar.10) and finally 0.7187 (10-d MA).