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23 Feb 2015
EUR/GBP rebounds from 0.7350
FXStreet (Edinburgh) - After dipping to the vicinity of 0.7350, EUR/GBP is now looking to regain the 0.7365/70 band.
EUR/GBP down with euro
The cross extends its negative mood at the beginning of the week in response to the bearishness around the euro and the sterling, consolidating its break below he 0.7400 handle overnight.
Ahead in the week, Greece headlines will dominate the scenario while the testimonies of Governor Carney and MPCs Broadbent and Miles before the Treasury Committee will grab all the attention from the GBP-side of the equation. Further UK data showed that Retail Sales Volume tracked by CBI dropped to 1 in February vs. 39 from January, the lowest level since November 2013.
EUR/GBP relevant levels
The cross is now retreating 0.36% at 0.7366 and a breach of 0.7340 (7-year low Feb.20) would open the door to 0.7321 (monthly low Jan.2008) and finally 0.7300 (psychological level). On the flip side, the initial hurdle aligns at 0.7429 (high Feb.20) ahead of 0.7437 (38.2% of 0.7592-0.7340) and then 0.7443 (high Feb.17).
EUR/GBP down with euro
The cross extends its negative mood at the beginning of the week in response to the bearishness around the euro and the sterling, consolidating its break below he 0.7400 handle overnight.
Ahead in the week, Greece headlines will dominate the scenario while the testimonies of Governor Carney and MPCs Broadbent and Miles before the Treasury Committee will grab all the attention from the GBP-side of the equation. Further UK data showed that Retail Sales Volume tracked by CBI dropped to 1 in February vs. 39 from January, the lowest level since November 2013.
EUR/GBP relevant levels
The cross is now retreating 0.36% at 0.7366 and a breach of 0.7340 (7-year low Feb.20) would open the door to 0.7321 (monthly low Jan.2008) and finally 0.7300 (psychological level). On the flip side, the initial hurdle aligns at 0.7429 (high Feb.20) ahead of 0.7437 (38.2% of 0.7592-0.7340) and then 0.7443 (high Feb.17).