Thursday, September 17, 2015

EUR/GBP down from 0.7320, back below 0.7300

FXStreet (Edinburgh) - EUR/GBP is now fading the earlier spike to session peaks near 0.7320 in response to the increasing bid tone around the sterling.

EUR/GBP supported around 0.7280

The European cross continues to trade in a tight 40-pip range however, with market participants already leaving behind the disappointing results from UK retail sales during the last month.

Ahead in the session, the salient event will be the FOMC gathering amongst another releases in the US docket, which remains poised to determine the sentiment in the global markets in the short and medium term.

EUR/GBP key levels

At the moment the cross is up 0.05% at 0.7293 with the next resistance at 0.7362 (high Sep.16) followed by 0.7376 (high Sep.3) and then 0.7398 (high Sep.2). On the other hand, a break below 0.7275 (low Sep.17) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20).
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