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11 Mar 2015
EUR/GBP consolidates below 0.7100
FXStreet (Edinburgh) - EUR/GBP continues to navigate in the area of multi-year lows around 0.7080 on Wednesday, consolidating the recent breach of the 0.7100 handle.
EUR/GBP attention to UK data
While the bearish trend prevails in the common currency, the sterling remains resilient in the upper-1.50s so far, ahead of the UK docket. Industrial and Manufacturing Production figures are due next in the British economy, with consensus expecting a generalized improvement during the month of January. Still in the UK, MPC Member Martin Weale is scheduled to give a speech as well.
EUR/GBP levels to consider
At the moment the cross is down 0.20% at 0.7085 with the next support at 0.7022 (monthly high Apr.2006) ahead of 0.7000 (psychological level). On the upside, a surpass of 0.7179 (high Mar.10) would aim for 0.7214 (10-d MA) and then 0.7220 (high Mar.9).
EUR/GBP attention to UK data
While the bearish trend prevails in the common currency, the sterling remains resilient in the upper-1.50s so far, ahead of the UK docket. Industrial and Manufacturing Production figures are due next in the British economy, with consensus expecting a generalized improvement during the month of January. Still in the UK, MPC Member Martin Weale is scheduled to give a speech as well.
EUR/GBP levels to consider
At the moment the cross is down 0.20% at 0.7085 with the next support at 0.7022 (monthly high Apr.2006) ahead of 0.7000 (psychological level). On the upside, a surpass of 0.7179 (high Mar.10) would aim for 0.7214 (10-d MA) and then 0.7220 (high Mar.9).