FXStreet (Edinburgh) – EUR/GBP is trading in a narrow range at the end of the week, posting session lows around 0.7140/45.
EUR/GBP muted post-German release
The European cross kept the composure following the buoyant results from German retail sales during April. However, the situation around Greece will continue to be the main focus of attention for the single currency today, followed in importance by EMU’s publications due later.
In fact, EMU’s M3 Money Supply (4.9% exp. in April) and Private Loans are due. Consensus expects loans to have grown 0.2% on a year to April vs. 0.1% during March.
EUR/GBP levels to watch
At the moment the cross is down 0.01% at 0.7147 with the next support at 0.7036 (low Mar.12) ahead of 0.7015 (2015 low Mar.11) and then 0.7000 (psychological level). On the flip side, the initial up barrier lines up at 0.7165 (high May 29) ahead of 0.7180 (10-d MA) and then 0.7187 (high May 20).
(Market News Provided by FXstreet)