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10 Apr 2015
EUR/GBP supported at 0.7240
FXStreet (Edinburgh) - The slight attempt of recovery in both the sterling and the greenback continue to give support to EUR/GBP today, now testing session highs near 0.7260.
EUR/GBP focus on UK data
Second-tier releases in the euro area today will leave most of the attention to the UK docket, where Manufacturing and Industrial Production figures are due. Consensus expects monthly advances of 0.4% and 0.3%, respectively, reverting January’s contraction.
Other than the mentioned data, Greece will remain in the limelight after repaying €450 million to the IMF on Thursday, with the focus now on the Eurogroup meeting on April 24.
EUR/GBP levels to consider
At the moment the cross is up 0.17% at 0.7257 and a break above 0.7328 (100-h MA) would open the door to 0.7379 (high Apr.3) and finally 0.7385 (high Mar.25). On the flip side, the initial support aligns at 0.7222 (low Mar.31) ahead of 0.7200 (psychological level) and then 0.7156 (61.8% of 0.7015-0.7385).
EUR/GBP focus on UK data
Second-tier releases in the euro area today will leave most of the attention to the UK docket, where Manufacturing and Industrial Production figures are due. Consensus expects monthly advances of 0.4% and 0.3%, respectively, reverting January’s contraction.
Other than the mentioned data, Greece will remain in the limelight after repaying €450 million to the IMF on Thursday, with the focus now on the Eurogroup meeting on April 24.
EUR/GBP levels to consider
At the moment the cross is up 0.17% at 0.7257 and a break above 0.7328 (100-h MA) would open the door to 0.7379 (high Apr.3) and finally 0.7385 (high Mar.25). On the flip side, the initial support aligns at 0.7222 (low Mar.31) ahead of 0.7200 (psychological level) and then 0.7156 (61.8% of 0.7015-0.7385).