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25 Feb 2015
EUR/GBP flat around 0.7340
FXStreet (Edinburgh) - Choppy session for EUR/GBP so far, meandering within a 0.7315-0.7345 range in the European evening.
EUR/GBP lower on GBP strength
The cross keeps the area of multi-year troughs in the low-0.7300s. EUR/GBP is netting an even day so far after two consecutive pullbacks, although it still remains unable to sustain any recovery against the backdrop of increasing buying interest around the sterling.
Data wise, UK’s Mortgage Approvals by BBA increased to 36.4K during January, while Draghi’s speech in the European Parliament is due shortly.
EUR/GBP relevant levels
At the moment the cross is down 0.02% at 0.7337 with the next support at 0.7300 (psychological level) ahead of 0.7256 (61.8% of 0.5681-0.9805) and then 0.7200 (psychological level). On the other hand, a break above 0.7388 (10-d MA) would aim for 0.7404 (high Feb.23) and finally 0.7429 (high Feb.20).
EUR/GBP lower on GBP strength
The cross keeps the area of multi-year troughs in the low-0.7300s. EUR/GBP is netting an even day so far after two consecutive pullbacks, although it still remains unable to sustain any recovery against the backdrop of increasing buying interest around the sterling.
Data wise, UK’s Mortgage Approvals by BBA increased to 36.4K during January, while Draghi’s speech in the European Parliament is due shortly.
EUR/GBP relevant levels
At the moment the cross is down 0.02% at 0.7337 with the next support at 0.7300 (psychological level) ahead of 0.7256 (61.8% of 0.5681-0.9805) and then 0.7200 (psychological level). On the other hand, a break above 0.7388 (10-d MA) would aim for 0.7404 (high Feb.23) and finally 0.7429 (high Feb.20).