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23 Jun 2015
EUR/GBP: In bearish trend, 27 May lows in sight
FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7106 with a high of 0.7180 and a low of 0.7080.
EUR/GBP bulls are up through and on to the 0.71 handle on a minor recovery from the aforementioned lows and post the very defined hammer on the short term charts. The cross is stalling a little here as the greenback gets a lift from Fed speak suggesting rates could be increased as soon as September, pressuring the single currency and containing the major while bulls attempt to pick up the pace again on a slight recovery from that event. However, a break of 1.12 could free the cross up again.
Meanwhile, there is still some optimism around the idea that a Greek deal could be on the cards this week but the German parliament will not vote until the Greek lawmakers have approved the proposed deal. It has been reported that the EZ finance ministers could approve a cash for reform deal as early as tomorrow otherwise and EU's Junker has stated that he is confident the process will be finalised this week.
EUR/GBP capped on EUR/USD
Technically, EUR/USD's 1.1200 resistance prevents the cross from gaining momentum to the upside, and the cross remains in bear's territory within the broader downtrend while below the 0.7250 and 16th June highs. 0.7055 is the 27th May lows that are in sight.
EUR/GBP bulls are up through and on to the 0.71 handle on a minor recovery from the aforementioned lows and post the very defined hammer on the short term charts. The cross is stalling a little here as the greenback gets a lift from Fed speak suggesting rates could be increased as soon as September, pressuring the single currency and containing the major while bulls attempt to pick up the pace again on a slight recovery from that event. However, a break of 1.12 could free the cross up again.
Meanwhile, there is still some optimism around the idea that a Greek deal could be on the cards this week but the German parliament will not vote until the Greek lawmakers have approved the proposed deal. It has been reported that the EZ finance ministers could approve a cash for reform deal as early as tomorrow otherwise and EU's Junker has stated that he is confident the process will be finalised this week.
EUR/GBP capped on EUR/USD
Technically, EUR/USD's 1.1200 resistance prevents the cross from gaining momentum to the upside, and the cross remains in bear's territory within the broader downtrend while below the 0.7250 and 16th June highs. 0.7055 is the 27th May lows that are in sight.