FXStreet (Edinburgh) – The positive tone in the euro has been feeding the recent upside in EUR/GBP to today’s tops around 0.7380.
EUR/GBP eyes on Greece, UK data
While the G7 gathering yielded no fresh news on the Greek front, the focus has now turned to the meeting between PM A.Tsipras, Chancellor A.Merkel and President F.Holland to be held tomorrow.
Data wide, the UK’s external sector will publish its April figures today, with consensus expecting the trade deficit to have narrowed to £9.9 billion. In Euroland, the second revision of the Q1 GDP should remain unchanged at 0.4% QoQ and 1.0% on a yearly basis.
EUR/GBP key levels
As of writing the cross is up 0.14% at 0.7368 with the next resistance at 0.7387 (high Jun.4) ahead of 0.7400 (psychological level) and 0.7419 (high May 1). On the other hand, a breakdown of 0.7294 (100-d MA) would expose 0.7267 (low Jun.8) and finally 0.7253 (low Jun.3).
(Market News Provided by FXstreet)