26 Jan 2015
EUR/GBP climbs above 0.7500
FXStreet (Córdoba) - EUR/GBP managed to bounce off 7-year lows on Monday as the euro was in recovery mode despite concerns about Greece after anti-austerity Syriza party victory in the national elections.
EUR/GBP bottomed out at a 7-year low of 0.7403 but climbed more than 100 pips over the last hours to regain the 0.75 mark, also supported by better-than-expected German IFO survey. At time of writing, EUR/GBP is trading at the 0.7500 area, up 0.43% on the day, having hit a daily peak of 0.7505.
EUR/GBP technical levels
In terms of technical levels, if EUR/GBP breaks above 0.7505, next resistances are seen at 0.7580 (100-hour SMA) and 0.7600 (psychological level). On the flip side, supports could be found at 0.7403/00 (7-year low Jan 26/psychological level) and 0.7391 (Jan 28 2008 low).
EUR/GBP bottomed out at a 7-year low of 0.7403 but climbed more than 100 pips over the last hours to regain the 0.75 mark, also supported by better-than-expected German IFO survey. At time of writing, EUR/GBP is trading at the 0.7500 area, up 0.43% on the day, having hit a daily peak of 0.7505.
EUR/GBP technical levels
In terms of technical levels, if EUR/GBP breaks above 0.7505, next resistances are seen at 0.7580 (100-hour SMA) and 0.7600 (psychological level). On the flip side, supports could be found at 0.7403/00 (7-year low Jan 26/psychological level) and 0.7391 (Jan 28 2008 low).