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EUR/GBP jumps toward 0.7300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/GBP broke above previous highs at 0.7265 and climbed to 0.7289 hitting the strongest level since October 22. The pair remains near the highs holding a bullish tone.

    EUR/GBP as EUR soars

    A stronger euro across the board boosted the pair. EUR/USD is testing last week highs around 1.1020, while GBP/USD remains in negative territory holding around 1.5140. EUR/CHF bounced form 1.0770 and is now at daily highs above 1.0810.

    EUR/GBP could post the highest close in more than a month and above an important technical level that stands around 0.7260, that capped the upside, last week and offered support back in October. A consolidation on top of 0.7280 would expose 0.7300; above the next resistance could be located at 0.7330 (Oct 7 & 8 low).

    On the opposite direction, support levels might lie at 0.7250 (Dec 3 & 11 high), 0.7200 (psychological level / Dec 10 & 11 low) and 0.7160 (Dec 07 low).
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