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3 Jun 2015
EUR/GBP flat lining around 0.7270
FXStreet (Edinburgh) - EUR/GBP is now looking to consolidate yesterday’s sharp upside to 4-week tops just beyond the 0.7300 handle, attempting to consolidate in the 0.7270 area.
EUR/GBP attention to EMU, UK data
The European cross is advancing for the second consecutive week so far backed by the upside momentum in the single currency after renewed hopes on a Greece-EU deal. Adding to the positive tone, better-than-expected inflation figures in the euro area boosted the sentiment for the euro, giving extra legs to the cross.
Another very interesting day ahead with Services PMIs in the UK and the EMU, Retail Sales and Unemployment figures in the euro bloc and the ECB interest rate decision and subsequent press conference by President M.Draghi.
EUR/GBP levels to watch
At the moment the cross is up 0.01% at 0.7269 with the initial up barrier at 0.7285 (high Jun.3) ahead of 0.7300 (psychological level) and finally 0.7304 (high Jun.2). On the other hand, a break below 0.7179 (low Jun.2) would expose 0.7140 (low May 29) and finally 0.7100 (low May 28).
EUR/GBP attention to EMU, UK data
The European cross is advancing for the second consecutive week so far backed by the upside momentum in the single currency after renewed hopes on a Greece-EU deal. Adding to the positive tone, better-than-expected inflation figures in the euro area boosted the sentiment for the euro, giving extra legs to the cross.
Another very interesting day ahead with Services PMIs in the UK and the EMU, Retail Sales and Unemployment figures in the euro bloc and the ECB interest rate decision and subsequent press conference by President M.Draghi.
EUR/GBP levels to watch
At the moment the cross is up 0.01% at 0.7269 with the initial up barrier at 0.7285 (high Jun.3) ahead of 0.7300 (psychological level) and finally 0.7304 (high Jun.2). On the other hand, a break below 0.7179 (low Jun.2) would expose 0.7140 (low May 29) and finally 0.7100 (low May 28).