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3 Jun 2015
EUR/GBP trough 0.7300
FXStreet (Edinburgh) - EUR/GBP keeps pushing higher on Wednesday, now testing fresh daily tops beyond the 0.7300 mark.
EUR/GBP firmer on EUR
Today’s sell-off in the German deb markets is lifting Bunds yields to fresh 2015 highs and giving extra oxygen to the single currency, which in turn is helping the European cross to regain the key level at 0.7300.
The euro paid little attention to Draghi’s press conference after the ECB left unchanged its refi rate at 0.05% at today’s meeting, broadly in line with market expectations. Draghi’s tone remained neutral, ruling out an anticipated QE exit and avoiding comments on the Greek debt talks.
EUR/GBP levels to watch
At the moment the cross is up 0.84% at 0.7329 with the initial up barrier at 0.7376 (high May 8) ahead of 0.7456 (76.4% of 0.7482-0.7057) and finally 0.7482 (high May 7). On the other hand, a break below 0.7253 (low Jun.3) would expose 0.7218 (30-d MA) and finally 0.7202 (21-d MA).
EUR/GBP firmer on EUR
Today’s sell-off in the German deb markets is lifting Bunds yields to fresh 2015 highs and giving extra oxygen to the single currency, which in turn is helping the European cross to regain the key level at 0.7300.
The euro paid little attention to Draghi’s press conference after the ECB left unchanged its refi rate at 0.05% at today’s meeting, broadly in line with market expectations. Draghi’s tone remained neutral, ruling out an anticipated QE exit and avoiding comments on the Greek debt talks.
EUR/GBP levels to watch
At the moment the cross is up 0.84% at 0.7329 with the initial up barrier at 0.7376 (high May 8) ahead of 0.7456 (76.4% of 0.7482-0.7057) and finally 0.7482 (high May 7). On the other hand, a break below 0.7253 (low Jun.3) would expose 0.7218 (30-d MA) and finally 0.7202 (21-d MA).