30 Mar 2016
EUR/GBP turns positive as Brexit fears weigh over Sterling
EUR/GBP regained poised and now trades positive on the day around 0.7870 as Brexit fears saw Cable trim gains.
EUR resilient to stock market gains
The common currency is showing resilience to stock market gains with traders eyeing the preliminary German CPI figure due later today. Consequently, the EUR/USD pair remains on the front foot around its daily high of 1.1330.
On the other hand, Cable has shed significant part of its gains to trade just below 1.44 handle largely due to Brexit fears. Consequently, the EUR/GBP strengthened and looks poised to test 0.79 handle.
EUR/GBP Technical Levels
The immediate hurdle at 0.7880 (hourly 100-MA) if breached shall open doors for a rise to 0.79 levels. On the other hand, a break below 0.7830 (previous day’s low) would expose 0.7774 (Mar 18 low).
EUR resilient to stock market gains
The common currency is showing resilience to stock market gains with traders eyeing the preliminary German CPI figure due later today. Consequently, the EUR/USD pair remains on the front foot around its daily high of 1.1330.
On the other hand, Cable has shed significant part of its gains to trade just below 1.44 handle largely due to Brexit fears. Consequently, the EUR/GBP strengthened and looks poised to test 0.79 handle.
EUR/GBP Technical Levels
The immediate hurdle at 0.7880 (hourly 100-MA) if breached shall open doors for a rise to 0.79 levels. On the other hand, a break below 0.7830 (previous day’s low) would expose 0.7774 (Mar 18 low).