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13 Apr 2015
EUR/GBP testing lows near 0.7200
FXStreet (Edinburgh) - The increasing weakness around the single currency dragged EUR/GBP to another visit of session lows around 0.7200 the figure.
EUR/GBP in 4-week lows
The cross has retested levels last seen in mid-March in the key 0.7200 neighbourhood following the steady stance of the sterling and the increasing offered tone surrounding its European peer, all after reaching session highs near 0.7270 in early trade.
The risk associated assets keep suffering the strong advance of the greenback on Monday after the poor figures from the Chinese external sector, keeping the prices of EUR/GBP depressed.
EUR/GBP levels to consider
At the moment the cross is retreating 0.55% at 0.7208 and a break below 0.7200 (psychological level) would aim for 0.7156 (61.8% of 0.7015-0.7385) and then 0.7154 (low Mar.19). On the flip side, the initial hurdle aligns at 0.7270 (high Apr.10) followed by 0.7279 (21-d MA) and finally 0.7281 (10-d MA).
EUR/GBP in 4-week lows
The cross has retested levels last seen in mid-March in the key 0.7200 neighbourhood following the steady stance of the sterling and the increasing offered tone surrounding its European peer, all after reaching session highs near 0.7270 in early trade.
The risk associated assets keep suffering the strong advance of the greenback on Monday after the poor figures from the Chinese external sector, keeping the prices of EUR/GBP depressed.
EUR/GBP levels to consider
At the moment the cross is retreating 0.55% at 0.7208 and a break below 0.7200 (psychological level) would aim for 0.7156 (61.8% of 0.7015-0.7385) and then 0.7154 (low Mar.19). On the flip side, the initial hurdle aligns at 0.7270 (high Apr.10) followed by 0.7279 (21-d MA) and finally 0.7281 (10-d MA).