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19 Mar 2015
EUR/GBP visiting lows around 0.7200
FXStreet (Edinburgh) - After a brief climb to the area of 0.7300 post-FOMC, EUR/GBP is now coming down to test daily lows in the 0.7210 region.
EUR/GBP dragged by EUR-weakness
The European cross quickly left behind the euphoria following the spikes higher in both the euro and the sterling in the wake of Yellen’s press conference on Wednesday. The dollar is reclaiming part of the recent ground lost to the risk-associated universe, confining the cross to the lower bound of the intraday range around 0.7210/00.
EUR/GBP levels to watch
As of writing the cross is losing 0.61% at 0.7207 and a breach of 0.7093 (low Mar.16) would aim for 0.7036 (low Mar.12) and finally 0.7014 (2015 low Mar.11). On the upside, the initial hurdle lines up at 0.7220 (high Mar.9) followed by 0.7238 (high Mar.6) and finally 0.7293 (high Mar.18).
EUR/GBP dragged by EUR-weakness
The European cross quickly left behind the euphoria following the spikes higher in both the euro and the sterling in the wake of Yellen’s press conference on Wednesday. The dollar is reclaiming part of the recent ground lost to the risk-associated universe, confining the cross to the lower bound of the intraday range around 0.7210/00.
EUR/GBP levels to watch
As of writing the cross is losing 0.61% at 0.7207 and a breach of 0.7093 (low Mar.16) would aim for 0.7036 (low Mar.12) and finally 0.7014 (2015 low Mar.11). On the upside, the initial hurdle lines up at 0.7220 (high Mar.9) followed by 0.7238 (high Mar.6) and finally 0.7293 (high Mar.18).