FXStreet (Guatemala) – EUR/GBP is currently trading at 0.7130 with a high of 0.7135 and a low of 0.7085.
EUR/GBP has been sticky around the 0.71 handle but in the last hour, the cross managed a bid to print the highs through the figure and is currently better bid. There are no signs of a deal yet for Greece but sentiment is still positive that a deal will be done sooner than later.
It has been reported that the EZ finance ministers could approve a cash for reform deal this week and EU’s Junker has stated that he is confident the process will be finalised this week. IMF’s Lagarde has said that she doesn’t want a Grexit but say’s Greek reform cannot be built on just tax hikes.
EUR/GBP bearish below key resistances
Technically, EUR/USD is making something of a minor recovery and is working its way through the 1.1200 barrier, printing 1.1234 highs today before hitting supply that has stalled the cross to some extent while the cross remains in bear’s territory below 0.7140 near term and within the broader downtrend while below the 0.7250 and 16th June highs. 0.7055 is the 27th May lows that are on the bears map.
(Market News Provided by FXstreet)