FXStreet (Edinburgh) – EUR/GBP continues to be dominated by the euro dynamics and the Greek headlines, keeping the trade in the low-0.7100s so far.
EUR/GBP eyes on Greece, Carney
Events in Greece keep weighing on the European cross so far, although it seems that hopes of a last-minute deal still remain intact and are somehow supporting the market sentiment.
Across the Channel, sterling has surrendered a large portion of its recent gains fuelled by an upbeat BoE and auspicious results in the domestic docket. Today’s speech by Governor M.Carney will be closely followed, amidst a recent pick up in expectations of a rate hike by the BoE earlier than markets estimate.
EUR/GBP levels to consider
As of writing the cross is up 0.03% at 0.7117 with the next hurdle at 0.7147 (high Jun.25) followed by 0.7152 (10-d MA) and then 0.7178 (high Jun.23). On the other hand, a breach of 0.7081 (low Jun.23) would expose 0.7057 (low May 27) and finally 0.7036 (low Mar 12).
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