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20 Apr 2015
EUR/GBP: Stalling through the pivot on 0.72 handle
FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7216 with a high of 0.7245 and a low of 0.7185.
EUR/GBP has seen some two way traffic but has been overall better bid and scoring the high recently having worked its way out of bearish territory on the 0.71 handle and now through the pivot on the 0.72 handle. The euro is resilient and has performed gains across the board at the start of the week while the calendar is relatively quiet up ahead for the EZ. From the UK this week, however, we have BoE Minutes on Wednesday, Retail Sales on Thursday, and the Election Campaign that is ongoing.
Technically,Karen Jones, chief analyst at Commerzbank suggests that only if a rise and daily chart close above the 0.7408 January low were to be made, there could be room for further upside towards the 0.7500 region to be seen. "Currently we view the low at 0.7015 as an interim low and look for some stabilisation and recovery short term."
EUR/GBP has seen some two way traffic but has been overall better bid and scoring the high recently having worked its way out of bearish territory on the 0.71 handle and now through the pivot on the 0.72 handle. The euro is resilient and has performed gains across the board at the start of the week while the calendar is relatively quiet up ahead for the EZ. From the UK this week, however, we have BoE Minutes on Wednesday, Retail Sales on Thursday, and the Election Campaign that is ongoing.
Technically,Karen Jones, chief analyst at Commerzbank suggests that only if a rise and daily chart close above the 0.7408 January low were to be made, there could be room for further upside towards the 0.7500 region to be seen. "Currently we view the low at 0.7015 as an interim low and look for some stabilisation and recovery short term."