24 Jul 2015
EUR/GBP looks for direction near 0.7080
FXStreet (Edinburgh) - The flat performance of both the euro and the sterling is echoing in a sideline pattern in EUR/GBP around the 0.7080 area so far.
EUR/GBP attention to PMIs
The European cross has managed to regain the 0.70 and 0.71 key barriers following a sharp rally in the euro on Thursday, extending the rebound from previous multi-year troughs around 0.6930.
The recent upside momentum will be put to the test today in light of the preliminary figures for the manufacturing and services PMIs in Euroland, while there are no data scheduled across the Channel.
EUR/GBP key levels
As of writing the cross is up 0.01% at 0.7079 and a break above 0.7086 (high Jul.24) would expose 0.7102 (high Jul.23) and then 0.7202 (high Jul.13). On the other hand, the initial support lines up at 0.6989 (low Jul.23) ahead of 0.6963 (low Jul.22) and finally 0.6936 (2015 low Jul.17).
EUR/GBP attention to PMIs
The European cross has managed to regain the 0.70 and 0.71 key barriers following a sharp rally in the euro on Thursday, extending the rebound from previous multi-year troughs around 0.6930.
The recent upside momentum will be put to the test today in light of the preliminary figures for the manufacturing and services PMIs in Euroland, while there are no data scheduled across the Channel.
EUR/GBP key levels
As of writing the cross is up 0.01% at 0.7079 and a break above 0.7086 (high Jul.24) would expose 0.7102 (high Jul.23) and then 0.7202 (high Jul.13). On the other hand, the initial support lines up at 0.6989 (low Jul.23) ahead of 0.6963 (low Jul.22) and finally 0.6936 (2015 low Jul.17).