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23 Feb 2015
EUR/GBP threatens 7-year low
FXStreet (Córdoba) - The British pound has continued to strengthen at the beginning of the American session, dragging EUR/GBP to fresh daily lows and near a 7-year trough scored last week.
EUR/GBP has fallen more than 80 pips from Friday’s highs as the Sterling is among the best performers on Monday while euro lost its Greece-deal euphoria and was pressured by disappointing German IFO figures. At time of writing, the pair is trading at 0.7346, recording a 0.73% loss on the day, having hit a low of 0.7340 in recent dealings.
EUR/GBP levels to watch
As for technical levels, EUR/GBP could find immediate supports at 0.7338 (7-year low Feb 20) and 0.7321 (monthly low Jan 2008). On the flip side, resistances are seen at 0.7428 (Feb 20 high) and 0.7441/43 (21-day SMA/Feb 17 high).
EUR/GBP has fallen more than 80 pips from Friday’s highs as the Sterling is among the best performers on Monday while euro lost its Greece-deal euphoria and was pressured by disappointing German IFO figures. At time of writing, the pair is trading at 0.7346, recording a 0.73% loss on the day, having hit a low of 0.7340 in recent dealings.
EUR/GBP levels to watch
As for technical levels, EUR/GBP could find immediate supports at 0.7338 (7-year low Feb 20) and 0.7321 (monthly low Jan 2008). On the flip side, resistances are seen at 0.7428 (Feb 20 high) and 0.7441/43 (21-day SMA/Feb 17 high).