7 Apr 2015
EUR/GBP hits fresh lows ahead of 0.73
FXStreet (Mumbai) - The shared currency was beaten by the pound in the European session; dragging EUR/GBP near 0.73 handle, as the euro failed to receive impetus from the above estimates services PMI readings from across the Euro area economies.
EUR/GBP drops from 0.7333
Currently, the EUR/GBP cross trades lower near fresh session lows at 0.7308, down -0.44% on the day. The cross in EUR/GBP fell sharply as the impressive EZ data failed to impress the markets. While the traders turned their focus on Greece situation ahead of the key repayment to the IMF on Thursday.
On the other hand, pound remains muted versus the greenback ahead of the UK services PMI report due out shortly which would provide fresh incentives on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7351 and above which it could extend gains to at 0.7381 levels. To the downside immediate support might be located at 0.7300 levels below that at 0.7251 levels.
EUR/GBP drops from 0.7333
Currently, the EUR/GBP cross trades lower near fresh session lows at 0.7308, down -0.44% on the day. The cross in EUR/GBP fell sharply as the impressive EZ data failed to impress the markets. While the traders turned their focus on Greece situation ahead of the key repayment to the IMF on Thursday.
On the other hand, pound remains muted versus the greenback ahead of the UK services PMI report due out shortly which would provide fresh incentives on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7351 and above which it could extend gains to at 0.7381 levels. To the downside immediate support might be located at 0.7300 levels below that at 0.7251 levels.