Back
25 Feb 2015
EUR/GBP hits fresh multi-year low
FXStreet (Córdoba) - EUR/GBP fell to a fresh 7-year low during the European session as the pair came under renewed pressure after the latest recovery attempt was rejected by the 0.7345 area.
EUR/GBP failed to sustain gains and turned lower, sliding to a fresh low of 0.7313, last seen December 2007. While Greek concerns and divergent ECB and BoE monetary policy outlooks continue to weigh on the pair, from a technical perspective, lower highs and lower lows scored on daily basis, evidence a negative bias.
EUR/GBP technical levels
At time of writing, the pair is trading at 0.7324, still % below its opening price. As for technical levels, immediate supports are seen at 0.7313 (7-year low Feb 25), 0.7300 (psychological level) and 0.7278 (Dec 27 2007).
On the flip side, resistances are seen at 0.7344/48 (Feb 25 & 24 highs), 0.7375 (10-day SMA) and 0.7400 (psychological level).
EUR/GBP failed to sustain gains and turned lower, sliding to a fresh low of 0.7313, last seen December 2007. While Greek concerns and divergent ECB and BoE monetary policy outlooks continue to weigh on the pair, from a technical perspective, lower highs and lower lows scored on daily basis, evidence a negative bias.
EUR/GBP technical levels
At time of writing, the pair is trading at 0.7324, still % below its opening price. As for technical levels, immediate supports are seen at 0.7313 (7-year low Feb 25), 0.7300 (psychological level) and 0.7278 (Dec 27 2007).
On the flip side, resistances are seen at 0.7344/48 (Feb 25 & 24 highs), 0.7375 (10-day SMA) and 0.7400 (psychological level).