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4 Feb 2015
EUR/GBP drops to 0.7530
FXStreet (Edinburgh) - The pound is outperforming its peers on Wednesday, dragging EUR/GBP back to the 0.7530/20 area, or session lows.
EUR/GBP coming from 0.7590
The cross has quickly climbed to the vicinity of 0.7600 the figure on Tuesday, boosted by the increasing bid tone around the euro. The bull run however, lost vigour and retraced those gains to the current region of session troughs around 0.7530.
There are no further data releases scheduled for today in both the euro area and the UK economy, although markets attention remain on the developments coming from the Greek front.
EUR/GBP significant levels
The cross is now retreating 0.59% at 0.7526 with the next support 0.7512 (10-d MA) ahead of 0.7500 (psychological level) and then 0.7479 (low Feb.2). On the other hand a breakout of 0.7592 (high Feb.3) would open the door to 0.7597 (61.8% of 0.7715-0.7406) and then 0.7626 (21-d MA).
EUR/GBP coming from 0.7590
The cross has quickly climbed to the vicinity of 0.7600 the figure on Tuesday, boosted by the increasing bid tone around the euro. The bull run however, lost vigour and retraced those gains to the current region of session troughs around 0.7530.
There are no further data releases scheduled for today in both the euro area and the UK economy, although markets attention remain on the developments coming from the Greek front.
EUR/GBP significant levels
The cross is now retreating 0.59% at 0.7526 with the next support 0.7512 (10-d MA) ahead of 0.7500 (psychological level) and then 0.7479 (low Feb.2). On the other hand a breakout of 0.7592 (high Feb.3) would open the door to 0.7597 (61.8% of 0.7715-0.7406) and then 0.7626 (21-d MA).