EUR/GBP regains 0.7100 and above

22 May, 2015

The better tone in the single currency plus the steady stance in the sterling are allowing the current rebound in EUR/GBP beyond the 0.7100 handle.

EUR/GBP motivated by German data

The cross reacted positively following the auspicious release from the German GDP during the first quarter, showing the domestic economy grew 0.3% QoQ, matching previous estimates.

In the meantime, the buoyant tone remains intact around the euro, with the main focus of attention being Greece and the developments from the EU Leaders gathering in Riga. On the GBP-side, UK’s Public Sector Net Borrowing figures are due ahead in the session preceding the speech by Governor M.Carney.

EUR/GBP key levels

The cross is now advancing 0.31 at 0.7117 and a surpass of 0.7166 (high May 21) would open the door to 0.7180 (10-d MA) and then 0.7187 (high May 20). On the other hand, the immediate support aligns at 0.7091 (low May 21) ahead of 0.7036 (low Mar.12) and finally 0.7015 (2015 low Mar.11).


Source link  
Gold holds steady near 6-week highs

Gold trimmed of the early gains to a six-week high and retreated to the $1262 region during early the European session, albeit has managed to hold...

USD stays under pressure on politics

The US dollar inched up from a 13-month low against a basket of six major currencies touched in early trading, assisted by strongerthan-expected...

Dollar rebounds from multi-month lows

The greenback selling pressure seems to have abated for the time being, with the key US Dollar Index (DXY) bouncing off 9-month lows...


EUR/GBP jumps to fresh yearly tops

The EUR/GBP cross was seen building on previous session's strong up-move and has now jumped to fresh yearly tops near 0.8875...

USD: Fed being a little more hawkish

The dollar picked up over the past week, and this continued to be in reaction to a Fed that is being a little more hawkish...

EUR sluggish in recent weeks

EUR has also been surprisingly soft in light of the convincing win by French President Macron...


EUR/USD sinks to session lows

The single currency is now losing the grip vs. the buck, sending EUR/USD to test the area of daily lows in the 1.1240/30. Spot met extra downside pressure...

Euro is consolidating below the 1.1300

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair still points to some consolidation...

Dollar Index rebound looks plausible

In view of the analysts at Societe Generale, the Dollar Index correction appears to have come...

  


Share: