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Trading news
16 Apr 2015
EUR/GBP might attempt to push above 0.7222 – KBC
FXStreet (Barcelona) - The KBC Bank Research Team believes that EUR/GBP might closely mimic EUR/USD today, and with doubts on USD in the short-term, the pair might attempt to push above the support at 0.7222.
Key Quotes
“The EUR/GBP fate remains linked to that of EUR/USD. So intra-day moves occurred nearly identical. EUR/GBP ended the session as a consequence also similarly. EUR/GBP closed at 0.7198, fractionally below the previous close (0.7208).”
“As in EUR/USD, there was a strange spike higher in EUR/GBP to 0.7216 overnight, but it was as in EUR/USD easily reversed.”
“For today, we expect EUR/GBP again to mirror EUR/USD closely. EUR/GBP is still near (but below) the key 0.7222 previous support, but the break never triggered more follow through euro selling.”
“With some doubts on the dollar short term too, there might be an attempt to push EUR/GBP back above previous support, which would bring the pair in in upper part of the 0.70 to 0.74 broad range.”
Key Quotes
“The EUR/GBP fate remains linked to that of EUR/USD. So intra-day moves occurred nearly identical. EUR/GBP ended the session as a consequence also similarly. EUR/GBP closed at 0.7198, fractionally below the previous close (0.7208).”
“As in EUR/USD, there was a strange spike higher in EUR/GBP to 0.7216 overnight, but it was as in EUR/USD easily reversed.”
“For today, we expect EUR/GBP again to mirror EUR/USD closely. EUR/GBP is still near (but below) the key 0.7222 previous support, but the break never triggered more follow through euro selling.”
“With some doubts on the dollar short term too, there might be an attempt to push EUR/GBP back above previous support, which would bring the pair in in upper part of the 0.70 to 0.74 broad range.”