FXStreet (Mumbai) – The common currency has an edge today over its British counterpart on hopes of Greek deal, taking the EUR/GBP pair to a session high of 0.7169 levels.
EUR/GBP: Trades near hourly 100-MA
The pair now trades around its hourly 100-MA currently located at 0.7167. The hopes of Greek deal pushed the German 10-year yield ten basis points higher to 0.86%. Meanwhile, the UK 10-year Gilt yield rose six basis points to 2.069%. Consequently, the yield spread tilted in favour of the common currency.
Ahead in the day, the pair could be influenced by the outcome of the EU summit and the Eurogroup meeting. The flash Eurozone consumer confidence indicator and the US housing data could also affect the pair.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7183, followed by another resistance at 0.7200 levels. On the flip side, a failure at 0.7167 (hourly 50-MA) could push the pair down to 0.7154 (hourly 50-MA).
(Market News Provided by FXstreet)