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2 Apr 2015
EUR/GBP clinches highs near 0.7340
FXStreet (Edinburgh) - The better tone in the euro is pushing EUR/GBP to test the upper band of the weekly range near 0.7340.
EUR/GBP rebounds from 0.7260
The cross has managed to break above the 0.7260 consolidation pattern that prevailed overnight, sustained by an increasing buying interest around the shared currency. The offered bias dominating the sterling is also collaborating with the daily upside, which seems to be headed towards the 0.7350 level.
In the meantime, developments from Greece remains muted, with recent appreciations by BuBa’s J.Weidmann signaling that Greece is running out of time.
EUR/GBP levels to consider
As of writing the cross is advancing 1.07% at 0.7339 and a break above 0.7385 (high Mar.25) would aim for 0.7400 (psychological level) and then 0.7404 (high Feb.23). On the other hand, the immediate support lines up at 0.7233 (21-d MA) ahead of 0.7223 (low Mar.31) and finally 0.7200 (psychological level).
EUR/GBP rebounds from 0.7260
The cross has managed to break above the 0.7260 consolidation pattern that prevailed overnight, sustained by an increasing buying interest around the shared currency. The offered bias dominating the sterling is also collaborating with the daily upside, which seems to be headed towards the 0.7350 level.
In the meantime, developments from Greece remains muted, with recent appreciations by BuBa’s J.Weidmann signaling that Greece is running out of time.
EUR/GBP levels to consider
As of writing the cross is advancing 1.07% at 0.7339 and a break above 0.7385 (high Mar.25) would aim for 0.7400 (psychological level) and then 0.7404 (high Feb.23). On the other hand, the immediate support lines up at 0.7233 (21-d MA) ahead of 0.7223 (low Mar.31) and finally 0.7200 (psychological level).