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EUR/GBP off lows around 0.7680 ahead of Sentix

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The recent bull run seen in the single currency allowed EUR/GBP to test levels above the 0.7700 handle during last week, although it lost some altitude afterwards.

    EUR/GBP attention to risk trends, Sentix

    With Chinese markets closed this week due to the celebrations of the Ney Year and a light docket in Euroland, volatility will be subdued and the risk appetite trends will take the driver’s seat as the main catalyst for price action in the sessions ahead.

    German Industrial Production figures are due later, while the Investor Confidence gauge tracked by the Sentix index will follow later in the euro area. Nothing worth mentioning across the Channel, with the pound trading in a sideline fashion ahead of the opening bell in London.

    EUR/GBP key levels

    The European cross is now down 0.02% at 0.7606 facing the next support at 0.7481 (61.8% Fibo of 0.7310-0.7758) ahead of 0.7310 (low Jan.5) and finally 0.7249 (200-day sma). On the other hand, a break above 0.7756 (high Jan.20) would aim for 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014).
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