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9 Apr 2015
EUR/GBP capped by 0.7280
FXStreet (Edinburgh) - The bullish attempt in EUR/GBP seems to have found tough resistance around 0.7280 on Thursday.
EUR/GBP remains below 0.7300
The European cross is navigating within a tight range today, with intraday gains so far limited by the 0.7280 area as the euro remains unable to gather further traction in the global markets.
The better tone around the greenback keep the demand for its G10 peers subdued, confining the cross to a narrow trading range. In the data front, the UK trade deficit surged above estimates and previous reading during February, while the BoE left its monetary policy unchanged in today’s meeting.
EUR/GBP key levels
At the moment the cross is gaining 0.20% at 0.7265 and a break above 0.7328 (100-h MA) would open the door to 0.7379 (high Apr.3) and finally 0.7385 (high Mar.25). On the downside, the immediate support lines up at 0.7222 (low Mar.31) ahead of 0.7200 (psychological level) and then 0.7156 (61.8% of 0.7015-0.7385).
EUR/GBP remains below 0.7300
The European cross is navigating within a tight range today, with intraday gains so far limited by the 0.7280 area as the euro remains unable to gather further traction in the global markets.
The better tone around the greenback keep the demand for its G10 peers subdued, confining the cross to a narrow trading range. In the data front, the UK trade deficit surged above estimates and previous reading during February, while the BoE left its monetary policy unchanged in today’s meeting.
EUR/GBP key levels
At the moment the cross is gaining 0.20% at 0.7265 and a break above 0.7328 (100-h MA) would open the door to 0.7379 (high Apr.3) and finally 0.7385 (high Mar.25). On the downside, the immediate support lines up at 0.7222 (low Mar.31) ahead of 0.7200 (psychological level) and then 0.7156 (61.8% of 0.7015-0.7385).