14 Jul 2015
EUR/GBP weaker around 0.7100
FXStreet (Edinburgh) - The softness around the single currency continues to cap the upside in EUR/GBP on Tuesday, currently testing the 0.7100 handle.
EUR/GBP attention to data, Greece
Although Greece will remain the almost exclusive catalyst of prices in the near term, today’s ZEW Survey results in both Euroland and Germany could grab some attention from traders. Of relevance as well will be the release of the inflation figures in the UK economy, with consensus expecting consumer prices to have come in flat on a year to June.
The European cross is retreating for the second consecutive session so far, following the apparent ‘buy the rumour, sell the fact’ in the euro after Greece and the EU institutions have clinched a deal on Monday.
EUR/GBP key levels
At the moment the cross is down 0.09% at 0.7102 with the initial support at 0.7091 (low Jul.14) ahead of 0.7054 (low Jul.6) and finally 0.6988 (2015 low Jun.29). On the upside, a break above 0.7226 (high Jul.10) would aim for 0.7248 (high Jun.15) and then 0.7389 (high Jun.9).
EUR/GBP attention to data, Greece
Although Greece will remain the almost exclusive catalyst of prices in the near term, today’s ZEW Survey results in both Euroland and Germany could grab some attention from traders. Of relevance as well will be the release of the inflation figures in the UK economy, with consensus expecting consumer prices to have come in flat on a year to June.
The European cross is retreating for the second consecutive session so far, following the apparent ‘buy the rumour, sell the fact’ in the euro after Greece and the EU institutions have clinched a deal on Monday.
EUR/GBP key levels
At the moment the cross is down 0.09% at 0.7102 with the initial support at 0.7091 (low Jul.14) ahead of 0.7054 (low Jul.6) and finally 0.6988 (2015 low Jun.29). On the upside, a break above 0.7226 (high Jul.10) would aim for 0.7248 (high Jun.15) and then 0.7389 (high Jun.9).