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24 Nov 2015
EUR/GBP off highs, returns to 0.7020
FXStreet (Edinburgh) - After climbing to session highs above 0.7030 overnight, EUR/GBP has now returned to the 0.7020 area, or daily lows.
EUR/GBP focus on German data
The European cross is now surrendering part of yesterday’s advance, although it remains in a narrow range and trading in multi-month levels in the low-0.7000s amidst a heavy tone around the single currency.
Ahead in the session, German data will be in the limelight via the publication of Q3 GDP figures and the IFO indicator. Across the Channel, Inflation Report Hearings and the CBI’s Distributive Trades Survey will also be released.
EUR/GBP important levels
As of writing the cross is down 0.17% at 0.7020 facing the next hurdle at 0.7101 (23.6% Fibo of 0.7496-0.6979) ahead of 0.7195 (100-day sma) and finally 0.7239 (55-day sma). On the other hand, a break below 0.6985 (low Nov.17) would open the door to 0.6948 (low Aug.5) and then 0.6934 (2015 low Jul.17).
EUR/GBP focus on German data
The European cross is now surrendering part of yesterday’s advance, although it remains in a narrow range and trading in multi-month levels in the low-0.7000s amidst a heavy tone around the single currency.
Ahead in the session, German data will be in the limelight via the publication of Q3 GDP figures and the IFO indicator. Across the Channel, Inflation Report Hearings and the CBI’s Distributive Trades Survey will also be released.
EUR/GBP important levels
As of writing the cross is down 0.17% at 0.7020 facing the next hurdle at 0.7101 (23.6% Fibo of 0.7496-0.6979) ahead of 0.7195 (100-day sma) and finally 0.7239 (55-day sma). On the other hand, a break below 0.6985 (low Nov.17) would open the door to 0.6948 (low Aug.5) and then 0.6934 (2015 low Jul.17).