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14 Apr 2015
EUR/GBP extends below 0.7200
FXStreet (Edinburgh) - The weakness around the single currency continues to drag EUR/GBP lower on Tuesday, now accelerating the dip below 0.7200 the figure.
EUR/GBP eyes on UK CPI
The European cross will remain under pressure today in light of the key CPI releases in the British economy. Prior surveys expect consumer prices to come in flat on a year to March, while Core prices are seen advancing 1.2% over the last twelve months.
In the meantime, the cross is retreating for the second consecutive session so far, extending the drop to levels last seen in mid-March.
EUR/GBP key levels
At the moment the cross is retreating 0.17% at 0.7189 and a break below 0.7156 (61.8% of 0.7015-0.7385) would expose 0.7154 (low Mar.19) and then 0.7100 (psychological level). 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 eyes on UK CPI
The European cross will remain under pressure today in light of the key CPI releases in the British economy. Prior surveys expect consumer prices to come in flat on a year to March, while Core prices are seen advancing 1.2% over the last twelve months.
In the meantime, the cross is retreating for the second consecutive session so far, extending the drop to levels last seen in mid-March.
EUR/GBP key levels
At the moment the cross is retreating 0.17% at 0.7189 and a break below 0.7156 (61.8% of 0.7015-0.7385) would expose 0.7154 (low Mar.19) and then 0.7100 (psychological level). 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).