10 Jun 2015
EUR/GBP shoots to 0.7360
FXStreet (Edinburgh) - The solid up trend in the euro is allowing EUR/GBP to clinch session tops in the 0.7360/65 band so far.
EUR/GBP boosted by Bunds, USD sell off
The persistent wave of selling orders in the German debt market is lifting Bund yields and sustaining the current EUR upside. Collaborating with the upside, the decline in the greenback vs. its main competitors seems to have resumed its negative bias.
Nothing of note in the data space from the euro area, whereas UK’s Manufacturing Production and Industrial Production are due followed by the GDP Estimate by NIESR for the month of May (0.4% prev.).
EUR/GBP key levels
As of writing the cross is up 0.19% at 0.7348 with the next resistance at 0.7387 (high Jun.4) ahead of 0.7400 (psychological level) and 0.7419 (high May 1). On the other hand, a breakdown of 0.7294 (100-d MA) would expose 0.7267 (low Jun.8) and finally 0.7253 (low Jun.3).
EUR/GBP boosted by Bunds, USD sell off
The persistent wave of selling orders in the German debt market is lifting Bund yields and sustaining the current EUR upside. Collaborating with the upside, the decline in the greenback vs. its main competitors seems to have resumed its negative bias.
Nothing of note in the data space from the euro area, whereas UK’s Manufacturing Production and Industrial Production are due followed by the GDP Estimate by NIESR for the month of May (0.4% prev.).
EUR/GBP key levels
As of writing the cross is up 0.19% at 0.7348 with the next resistance at 0.7387 (high Jun.4) ahead of 0.7400 (psychological level) and 0.7419 (high May 1). On the other hand, a breakdown of 0.7294 (100-d MA) would expose 0.7267 (low Jun.8) and finally 0.7253 (low Jun.3).