EUR/GBP Dips to Lows Near 0.7970
EUR/GBP continues to suffer the selling interest around the single currency, now testing daily lows in the 0.7970 area.
EUR/GBP focus on risk trends, data
The
European cross is losing ground since last Friday, following the
rejection from fresh cycle highs around 0.8120 in response to a renewed
offered tone around the euro and a sharp rebound in the sterling after
auspicious inflation figures in March.
Ahead in the session,
French and Spanish CPI results are due followed by EMU’s Industrial
Production figures during February and a speech by ECB’s E.Nowotny.
EUR/GBP key levels
The
cross is now losing 0.52% at 0.7967 facing the next support at 0.7939
(20-day sma) ahead of 0.7825 (low Mar.29) and then 0.7822 (55-day sma).
On the flip side, a breakout of 0.8119 (2016 high Apr.7) would expose
0.8349 (monthly high Feb.6 2014) and finally 0.8401 (2014 high Mar.18).
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