19 Feb 2015
EUR/GBP drops to lows around 0.7370
FXStreet (Edinburgh) - EUR/GBP is extending its bearishness during the European afternoon, now testing intraday lows in the 0.7370/65 band.
EUR/GBP lower on euro weakness
The cross is following the increasing offered tone around the single currency, despite the apparent progress in the Greek front: euro area finance ministers will hold a meeting today in Brussels to assess the recent request of a loan extension by Greece, all ahead the emergency Eurogroup meeting due tomorrow.
Next on tap, the ECB accounts are due with the main focus on the details surrounding the recent announcement of a ‘quantitative easing’ programme.
EUR/GBP relevant levels
At the moment the cross is down 0.21% at 0.7365 and a break below 0.7348 (7-year low Feb.18) would aim for 0.7321 (monthly low Jan.2008) and then 0.7300 (psychological level). On the flip side, the next up barrier aligns at 0.7441 (38.2% of 0.7592-0.7348) ahead of 0.7443 (high Feb.17) and finally 0.7455 (high Feb.12).
EUR/GBP lower on euro weakness
The cross is following the increasing offered tone around the single currency, despite the apparent progress in the Greek front: euro area finance ministers will hold a meeting today in Brussels to assess the recent request of a loan extension by Greece, all ahead the emergency Eurogroup meeting due tomorrow.
Next on tap, the ECB accounts are due with the main focus on the details surrounding the recent announcement of a ‘quantitative easing’ programme.
EUR/GBP relevant levels
At the moment the cross is down 0.21% at 0.7365 and a break below 0.7348 (7-year low Feb.18) would aim for 0.7321 (monthly low Jan.2008) and then 0.7300 (psychological level). On the flip side, the next up barrier aligns at 0.7441 (38.2% of 0.7592-0.7348) ahead of 0.7443 (high Feb.17) and finally 0.7455 (high Feb.12).