FXStreet (Edinburgh) – The slightly better tone in the single currency is helping EUR/GBP to gather some traction on Tuesday, although it still trades below the 0.7200 mark.
EUR/GBP focus on EMU, UK data
In the meantime, the European cross continues to extend the bounce off recent lows in the mid-0.7000s, mainly on the back of an increased selling pressure around the sterling.
Ahead in the session, EMU’s flash CPI for the month of May is due along with UK’s Consumer Credit, M4 Money Supply and Mortgage Approvals.
EUR/GBP levels to watch
At the moment the cross is up 0.06% at 0.7193 with the initial up barrier at 0.7200 (high May 29) and then 0.7216 (daily cloud base). On the other hand, a break below 0.7179 (low Jun.2) would expose 0.7140 (low May 29) and finally 0.7100 (low May 28).
(Market News Provided by FXstreet)