6 Mar 2015
EUR/GBP breaches 0.7200
FXStreet (Edinburgh) - The euro keeps falling across the board on Friday, now sending EUR/GBP to lows in the 0.7170 area.
EUR/GBP in multi-year troughs
The selling pressure in the euro gathered further traction following the solid print from the US Non-farm Payrolls during February (295K act. vs. 240K exp.), extending at the same time the drop against its other rivals.
The cross briefly tested the 0.7180 region, although regained the 0.7200 handle soon afterwards. These levels were last traded in December 2007.
EUR/GBP key levels
At the moment the cross is down 0.43% at 0.7210 and a breach of 0.7182 (low Mar.6) would open the door to 0.7130 (low Dec.19 2007) and finally 0.7112 (low Dec.17 2007). On the flip side, the immediate hurdle lines up at 0.7279 (10-d MA) ahead of 0.7284 (Tenkan Sen) and then 0.7289 (high Mar.3).
EUR/GBP in multi-year troughs
The selling pressure in the euro gathered further traction following the solid print from the US Non-farm Payrolls during February (295K act. vs. 240K exp.), extending at the same time the drop against its other rivals.
The cross briefly tested the 0.7180 region, although regained the 0.7200 handle soon afterwards. These levels were last traded in December 2007.
EUR/GBP key levels
At the moment the cross is down 0.43% at 0.7210 and a breach of 0.7182 (low Mar.6) would open the door to 0.7130 (low Dec.19 2007) and finally 0.7112 (low Dec.17 2007). On the flip side, the immediate hurdle lines up at 0.7279 (10-d MA) ahead of 0.7284 (Tenkan Sen) and then 0.7289 (high Mar.3).