11 Aug 2015
EUR/GBP drops to lows near 0.7040
FXStreet (Edinburgh) - The offered tone in the single currency is now impacting on EUR/GBP, dragging it to weekly lows in the 0.7045/40 band so far.
EUR/GBP focus on ZEW
The recovery of the European cross from last week’s lows around 0.6950 has stalled in the boundaries of 0.7100 the figure on Monday, prompting the current leg lower to the 0.7040 area. The pound, in the meantime, keeps the resilient tone during the first half of the week, collaborating with the downside.
Ahead in the session, the key ZEW survey in both Germany and the euro area is due, with expectations pointing to a generalized improvement in all of its components for the current month.
EUR/GBP key levels
At the moment the cross is losing 0.36% at 0.7040 with the next support at 0.6963 (low Jul.22) followed by 0.6947 (low Jul.21) and finally 0.6936 (2015 low Jul.17). On the flip side, a surpass of 0.7095 (high Aug.7) would expose 0.7102 (high Jul.23) and finally 0.7160 (high Jul.27).
EUR/GBP focus on ZEW
The recovery of the European cross from last week’s lows around 0.6950 has stalled in the boundaries of 0.7100 the figure on Monday, prompting the current leg lower to the 0.7040 area. The pound, in the meantime, keeps the resilient tone during the first half of the week, collaborating with the downside.
Ahead in the session, the key ZEW survey in both Germany and the euro area is due, with expectations pointing to a generalized improvement in all of its components for the current month.
EUR/GBP key levels
At the moment the cross is losing 0.36% at 0.7040 with the next support at 0.6963 (low Jul.22) followed by 0.6947 (low Jul.21) and finally 0.6936 (2015 low Jul.17). On the flip side, a surpass of 0.7095 (high Aug.7) would expose 0.7102 (high Jul.23) and finally 0.7160 (high Jul.27).