EUR/GBP in highs above 0.7800

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The now softer tone around the sterling is allowing EUR/GBP to clinch session highs in the 0.7810/15 band.

    EUR/GBP attention to risk trends

    The cross is looking to recover part of last week’s drop to the mid-0.7700s, while empty dockets in both the euro area and the UK economy will surely leave the attention to the broader risk appetite trends.

    Next of relevance for the cross will be tomorrow’s advanced PMIs and ZEW Survey in Euroland, whereas key inflation figures for the month of February are also due across the Channel.

    EUR/GBP key levels

    The European cross is now up 0.38% at 0.7816 and a break above 0.7913 (high Mar.17) would expose 0.7931 (2016 high Feb.25) and then 0.8000 (psychological handle). On the flip side, the immediate support aligns at 0.7706 (55-day sma) ahead of 0.7620 (50% Fibo of 0.7310-0.7931) and finally 0.7473 (100-day sma).
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