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11 May 2015
EUR/GBP recovers to 0.7240
FXStreet (Edinburgh) - EUR/GBP is now attempting to leave session lows and advance to the area of 0.7240 on Monday.
EUR/GBP attention to the BoE, Eurogroup
Absent relevant releases in the euro area, the Eurogroup meeting should keep investors entertained during the European morning. Across the Channel, the BoE will hold its monetary policy meeting, although consensus expects a repetition of the last statement, without any significance for the sterling.
The cross remains in multi-day lows following the solid response from the pound to the Conservative win in the UK Parliamentary elections, which dragged the cross from the boundaries of 0.7500 to current levels in the 0.7240/35 area.
EUR/GBP key levels
At the moment the cross is losing 0.16% at 0.7237 with the next support at 0.7200 (psychological level) ahead of 0.7187 (low Apr.30) and then 0.7137 (low Apr.29). On the flip side, a break above 0.7312 (high May 8) would aim for 0.7449 (high May 6) and finally 0.7483 (high May 7).
EUR/GBP attention to the BoE, Eurogroup
Absent relevant releases in the euro area, the Eurogroup meeting should keep investors entertained during the European morning. Across the Channel, the BoE will hold its monetary policy meeting, although consensus expects a repetition of the last statement, without any significance for the sterling.
The cross remains in multi-day lows following the solid response from the pound to the Conservative win in the UK Parliamentary elections, which dragged the cross from the boundaries of 0.7500 to current levels in the 0.7240/35 area.
EUR/GBP key levels
At the moment the cross is losing 0.16% at 0.7237 with the next support at 0.7200 (psychological level) ahead of 0.7187 (low Apr.30) and then 0.7137 (low Apr.29). On the flip side, a break above 0.7312 (high May 8) would aim for 0.7449 (high May 6) and finally 0.7483 (high May 7).