30 Jul 2015
EUR/GBP holding on to 0.7000
FXStreet (Edinburgh) - The offered tone keeps weighing on the single currency on Thursday, dragging EUR/GBP to lows in the boundaries of 0.7000 the figure.
EUR/GBP softer on German CPI
The cross is threatening to break below the psychological support at 0.7000 today following the tepid inflation figures in Germany. Consumer prices rose below expectations 0.2% inter-month during July and 0.2% over the last twelve months, both prints missing previous forecasts for a 0.3% advance. Further data showed the broader HICP matching estimates at 0.3% MoM and 0.1% YoY.
Previously, and still in Germany, the jobless rate stayed intact at 6.4% during the current month while the unemployment increased by 9K.
EUR/GBP key levels
As of writing the cross is retreating 0.42% at 0.7010 with the next support at 0.7000 (psychological level) ahead of 0.6989 (low Jul.23) and finally 0.6963 (low Jul.22). On the other hand, a surpass of 0.7150 (high Jul.27) would expose 0.7203 (high Jul.13) and then 0.7223 (high Jul.10).
EUR/GBP softer on German CPI
The cross is threatening to break below the psychological support at 0.7000 today following the tepid inflation figures in Germany. Consumer prices rose below expectations 0.2% inter-month during July and 0.2% over the last twelve months, both prints missing previous forecasts for a 0.3% advance. Further data showed the broader HICP matching estimates at 0.3% MoM and 0.1% YoY.
Previously, and still in Germany, the jobless rate stayed intact at 6.4% during the current month while the unemployment increased by 9K.
EUR/GBP key levels
As of writing the cross is retreating 0.42% at 0.7010 with the next support at 0.7000 (psychological level) ahead of 0.6989 (low Jul.23) and finally 0.6963 (low Jul.22). On the other hand, a surpass of 0.7150 (high Jul.27) would expose 0.7203 (high Jul.13) and then 0.7223 (high Jul.10).