Monday, September 21, 2015

EUR/GBP directionless around 0.7280

FXStreet (Edinburgh) - After the deep pullback seen on Friday, EUR/GBP has managed to gather traction and it has recovered the 0.7280 ahead of the European open on Monday.

EUR/GBP unmoved by Greek headlines, empty docket

Markets seem to be extending their overnight consolidative pattern into the European trading hours, paying little-to-none attention to yesterday’s victory of A.Tsipras’s Syriza party in the Greek Parliamentary elections.

Collaborating with the lack of direction in the global markets, there are no relevant releases in both Euroland and the UK economy today, all while the broader markets continue to assess the recent no-hike decision by the Federal Reserve (Thursday).

EUR/GBP key levels

At the moment the cross is flat at 0.7277 and a breach of 0.7264 (low Sep.21) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the next resistance aligns at 0.7362 (high Sep.16) followed by 0.7376 (high Sep.3) and then 0.7398 (high Sep.2).
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