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10 Apr 2015
EUR/GBP rebounds to 0.7240
FXStreet (Edinburgh) - After bottoming out in the proximity of 0.7220, EUR/GBP managed to trim losses and retake the 0.7240 area.
EUR/GBP hurt by EUR weakness
The increasing offered tone surrounding the single currency keeps weighing on the cross today, coming down from overnight tops around 0.7240.
In the data front, UK’s manufacturing and industrial production disappointed investors during February, while the same sectors bettered their numbers in both Spain and France.
EUR/GBP levels to consider
At the moment the cross is down 0.07% at 0.7239 with the initial support at 0.7222 (low Mar.31) ahead of 0.7200 (psychological level) and then 0.7156 (61.8% of 0.7015-0.7385). On the other hand, 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).
EUR/GBP hurt by EUR weakness
The increasing offered tone surrounding the single currency keeps weighing on the cross today, coming down from overnight tops around 0.7240.
In the data front, UK’s manufacturing and industrial production disappointed investors during February, while the same sectors bettered their numbers in both Spain and France.
EUR/GBP levels to consider
At the moment the cross is down 0.07% at 0.7239 with the initial support at 0.7222 (low Mar.31) ahead of 0.7200 (psychological level) and then 0.7156 (61.8% of 0.7015-0.7385). On the other hand, 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).