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9 Dec 2015
EUR/GBP off highs, near 0.7270
FXStreet (Edinburgh) -After yesterday’s highs in near 0.7280, EUR/GBP has deflated somewhat and is now trading back around the 0.7260 area.
EUR/GBP looks to risk trends for direction
Significant data releases remain absent today, leaving the European cross to the mercy of the risk appetite trends amidst a continuation of the recovery in the single currency while the British pound seems comfortable with the current consolidative stance.
The sterling will take centre stage in the upcoming session, as the BoE’s ‘Super Thursday’ is due along with UK’s Trade Balance figures.
EUR/GBP levels to consider
As of writing the cross is advancing 0.12% at 0.7268 and a surpass of 0.7299 (61.8% Fibo of 0.7496-0.6979) would aim for 0.7376 (high Oct.21) and then 0.7496 (monthly high Oct.13). On the other hand, the immediate support is located at 0.7101 (23.6% Fibo of 0.7496-0.6979) followed by 0.7000 (psychological level) and then 0.6979 (low Nov.18).
EUR/GBP looks to risk trends for direction
Significant data releases remain absent today, leaving the European cross to the mercy of the risk appetite trends amidst a continuation of the recovery in the single currency while the British pound seems comfortable with the current consolidative stance.
The sterling will take centre stage in the upcoming session, as the BoE’s ‘Super Thursday’ is due along with UK’s Trade Balance figures.
EUR/GBP levels to consider
As of writing the cross is advancing 0.12% at 0.7268 and a surpass of 0.7299 (61.8% Fibo of 0.7496-0.6979) would aim for 0.7376 (high Oct.21) and then 0.7496 (monthly high Oct.13). On the other hand, the immediate support is located at 0.7101 (23.6% Fibo of 0.7496-0.6979) followed by 0.7000 (psychological level) and then 0.6979 (low Nov.18).