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21 May 2015
EUR/GBP flat around 0.7150
FXStreet (Edinburgh) - EUR/GBP is trading in a sideline pattern following the flat performance of both the sterling and the euro on Thursday.
EUR/GBP focus on data
The European cross is looking to consolidate the weekly drop around the mid-0.7100s so far, retreating from tops near 0.7300 the figure posted on Monday. Ahead in the session, flash prints from manufacturing and services PMIs will be in the limelight in Euroland ahead of the ECB Accounts and the speech by President M.Draghi. In the British economy, April’s retail sales will take centre stage.
In the meantime, the sell off in the single currency now seems to be taking a breather following yesterday’s FOMC minutes, although the fragile situation around Greece will continue to be the main driver of EUR weakness for the time being.
EUR/GBP key levels
The cross is now up 0.04% at 0.7148 with the next hurdle at 0.7187 (high May 20) ahead of 0.7199 (10-d MA) and finally 0.7232 (high May 19). On the downside, a break below 0.7127 (low May 20) would aim for 0.7123 (low May 13) and then 0.7118 (low Apr.23).
EUR/GBP focus on data
The European cross is looking to consolidate the weekly drop around the mid-0.7100s so far, retreating from tops near 0.7300 the figure posted on Monday. Ahead in the session, flash prints from manufacturing and services PMIs will be in the limelight in Euroland ahead of the ECB Accounts and the speech by President M.Draghi. In the British economy, April’s retail sales will take centre stage.
In the meantime, the sell off in the single currency now seems to be taking a breather following yesterday’s FOMC minutes, although the fragile situation around Greece will continue to be the main driver of EUR weakness for the time being.
EUR/GBP key levels
The cross is now up 0.04% at 0.7148 with the next hurdle at 0.7187 (high May 20) ahead of 0.7199 (10-d MA) and finally 0.7232 (high May 19). On the downside, a break below 0.7127 (low May 20) would aim for 0.7123 (low May 13) and then 0.7118 (low Apr.23).