11 Aug 2015
EUR/GBP hits 2-week highs above 0.7100
FXStreet (Córdoba) - The euro extended gains versus the pound during the American session and reached the strongest level in two weeks at 0.7116. Then pulled back, found support at 0.7085 and it was trading around 0.7100.
EUR supported by Greek deal
EUR/GBP gained momentum after officials announced that a deal between Greece and its creditors was reached. The Eurogroup will meet later during the week to approve the deal.
The euro rose across the board and so far is among the top performers, rising particularly against commodity currencies. Against the pound is rising for the third time out of the last four days as it resumed the recovery from 0.6950 (August 5 low).
EUR/GBP levels to watch
It could be important for euro bulls to see it the pair manages to stabilize above 0.7100. Above there the next level to consider lies around 0.7140 that capped the upside, during the second half of July.
On the opposite direction, a decline below 0.7080 could open the doors for a bearish correction.
EUR supported by Greek deal
EUR/GBP gained momentum after officials announced that a deal between Greece and its creditors was reached. The Eurogroup will meet later during the week to approve the deal.
The euro rose across the board and so far is among the top performers, rising particularly against commodity currencies. Against the pound is rising for the third time out of the last four days as it resumed the recovery from 0.6950 (August 5 low).
EUR/GBP levels to watch
It could be important for euro bulls to see it the pair manages to stabilize above 0.7100. Above there the next level to consider lies around 0.7140 that capped the upside, during the second half of July.
On the opposite direction, a decline below 0.7080 could open the doors for a bearish correction.