Wednesday, September 9, 2015

EUR/GBP upside stalled ahead of 0.7300

FXStreet (Edinburgh) - EUR/GBP has rallied in the wake of UK releases today, testing the 0.7300 neighbourhood although losing ground afterwards.

EUR/GBP down with the euro

While the sterling remains within a narrow range, the single currency is facing a choppy sentiment, prompting sellers to step in around 0.7300 the figure and drag the European cross back to the lower bound of the range in the mid-0.7200s.

in the data wise, nothing worth mentioning in Euroland, while Industrial and Manufacturing Production as well as trade balance figures have all come in below expectations in the UK calendar.

EUR/GBP key levels

At the moment the cross is losing 0.20% at 0.7261 and a breach of 0.7200 (psychological level) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the initial up barrier lines up at 0.7301 (high Sep.9) followed by 0.7376 (high Sep.3) ahead of 0.7398 (high Sep.2).
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