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14 Apr 2015
EUR/GBP capped by 0.7230
FXStreet (Edinburgh) - The positive performance of the sterling and the euro is bolstering the upside attempt in EUR/GBP so far, hitting session tops near 0.7230.
EUR/GBP boosted by US data
Data in the US docket below expectations fuelled the demand for the riskier assets on Tuesday, helping the cross to extend the rebound from the vicinity of 0.7180 to the upper band of the daily range at 0.7220/30.
Recall that softer consumer prices in the UK economy during March hurt the pound in early trade, adding upside momentum to the cross.
EUR/GBP key levels
At the moment the cross is advancing 0.30% at 0.7223 with the next resistance at 0.7270 (high Apr.10) followed by 0.7279 (21-d MA) and finally 0.7281 (10-d MA). On the other hand, a breakdown of 0.7180 (low Apr.14) would aim for 0.7156 (61.8% of 0.7015-0.7385) and then 0.7154 (low Mar.19).
EUR/GBP boosted by US data
Data in the US docket below expectations fuelled the demand for the riskier assets on Tuesday, helping the cross to extend the rebound from the vicinity of 0.7180 to the upper band of the daily range at 0.7220/30.
Recall that softer consumer prices in the UK economy during March hurt the pound in early trade, adding upside momentum to the cross.
EUR/GBP key levels
At the moment the cross is advancing 0.30% at 0.7223 with the next resistance at 0.7270 (high Apr.10) followed by 0.7279 (21-d MA) and finally 0.7281 (10-d MA). On the other hand, a breakdown of 0.7180 (low Apr.14) would aim for 0.7156 (61.8% of 0.7015-0.7385) and then 0.7154 (low Mar.19).