Wednesday, October 14, 2015

EUR/GBP flat around 0.7460, UK data eyed

FXStreet (Edinburgh) - EUR/GBP keeps its march north this week despite coming down from yesterday’s tops near 0.7500 the figure, currently hovering over 0.7455/60.

EUR/GBP attention to UK docket

The upbeat momentum in the single currency in collaboration with the recent slump in the sterling have helped the European cross to clinch levels last traded in January in the boundaries of the 0.7500 handle on Tuesday, although the up move run out of vigour soon afterwards.

Ahead in the session, UK labour market figures will take centre stage along with inflation gauges from some EMU members for the month of September.

EUR/GBP relevant levels

As of writing the cross is losing 0.08% at 0.7456 with the next support at 0.7366 (up trend from September low) followed by 0.7307 (55-d sma) and then 0.7196 (monthly low Sep.22). On the flip side, a breakout of 0.7500 (psychological handle) would expose 0.7592 (monthly high Feb.3) and finally 0.7600 (psychological mark).
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