EUR/GBP extends above 0.7600, risk-off accelerates

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The risk aversion is back to the global market today, sustaining the bid tone around the single currency and collaborating with the upside in EUR/GBP beyond 0.7600.

    EUR/GBP attention to Carney

    Spot is now advancing for the second consecutive session after last week’s pullback from the mid-0.7700s, propped up by a continuation of the risk aversion theme and the persistent selling mood surrounding the sterling.

    That said, GBP will take centre stage later in the European morning, as Governor M.Carney will give a speech before the Treasury Select Committee Hearing, as part of the Financial Stability Report.

    EUR/GBP key levels

    The European cross is now up 0.38% at 0.7644 with the next resistance at 0.7756 (high Jan.20) followed by 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014). On the other hand, a break below 0.7530 (20-day sma) would aim for 0.7517 (2-month uptrend) and finally 0.7310 (low Jan.5).
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