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3 Sep 2015
EUR/GBP testing highs near 0.7340
FXStreet (Edinburgh) - After hitting overnight troughs near 0.7320, EUR/GBP has now recovered the bid tone and is flirting with session tops in the 0.7340/45 band.
EUR/GBP focus on ECB
The European cross is navigating a tight range following the sideline pattern in the euro and the sterling, as cautiousness prevails amongst traders ahead of the ECB meeting due later.
In the data space, the final figures for Services PMIs in Euroland are due ahead of EMU’s Retail Sales and the key ECB gathering. Across the Channel, the always relevant Services PMI tracked by Markit will be in the limelight.
EUR/GBP key levels
At the moment the cross is up 0.09% at 0.7345 with the next resistance at 0.7398 (high Sep.2) followed by 0.7400 (psychological level) and finally 0.7423 (high Aug.24). On the downside, a break below 0.7259 (low Aug.28) would aim for 0.7151 (low Aug.21) and then 0.7091 (low Aug.20).
EUR/GBP focus on ECB
The European cross is navigating a tight range following the sideline pattern in the euro and the sterling, as cautiousness prevails amongst traders ahead of the ECB meeting due later.
In the data space, the final figures for Services PMIs in Euroland are due ahead of EMU’s Retail Sales and the key ECB gathering. Across the Channel, the always relevant Services PMI tracked by Markit will be in the limelight.
EUR/GBP key levels
At the moment the cross is up 0.09% at 0.7345 with the next resistance at 0.7398 (high Sep.2) followed by 0.7400 (psychological level) and finally 0.7423 (high Aug.24). On the downside, a break below 0.7259 (low Aug.28) would aim for 0.7151 (low Aug.21) and then 0.7091 (low Aug.20).