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15 Apr 2015
EUR/GBP toying with 0.7200
FXStreet (Edinburgh) - After a brief test of intraday lows near 0.7180, EUR/GBP is now looking to regain the 0.7200 handle.
EUR/GBP attention to the ECB
The current recovery attempt is bolstered by a better tone in the single currency and a steady stance from the sterling so far, all ahead of the ECB meeting due later in the European afternoon.
The cross is trying to consolidate the drop from Monday’s tops around 0.7270, all framed within a broader decline from March and April peaks in the 0.7380/85 band.
EUR/GBP levels to consider
At the moment the cross is retreating 0.07% at 0.7202 and a break below 0.7156 (61.8% of 0.7015-0.7385) would expose 0.7154 (low Mar.19) and then 0.7100 (psychological level). On the flip side, the initial hurdle aligns at 0.7270 (high Apr.10) followed by 0.7279 (21-d MA) and finally 0.7281 (10-d MA).
EUR/GBP attention to the ECB
The current recovery attempt is bolstered by a better tone in the single currency and a steady stance from the sterling so far, all ahead of the ECB meeting due later in the European afternoon.
The cross is trying to consolidate the drop from Monday’s tops around 0.7270, all framed within a broader decline from March and April peaks in the 0.7380/85 band.
EUR/GBP levels to consider
At the moment the cross is retreating 0.07% at 0.7202 and a break below 0.7156 (61.8% of 0.7015-0.7385) would expose 0.7154 (low Mar.19) and then 0.7100 (psychological level). On the flip side, the initial hurdle aligns at 0.7270 (high Apr.10) followed by 0.7279 (21-d MA) and finally 0.7281 (10-d MA).