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12 Jun 2014
EUR/GBP hits fresh 18-month lows
FXStreet (Córdoba) - The EUR/GBP extended losses to a fresh 18-month low Thursday after yesterday’s UK employment data pave the way for more Sterling gains.
The EUR/GBP came under strong pressure in anticipation and response to the ECB easing measures, entering a bearish phase that has extended into a seventh consecutive day. The EUR/GBP broke below the 0.8060 area and hit its lowest level since December 2012 at 0.8041 in recent dealings.
At time of writing, the EUR/GBP is trading at the 0.8045 area, recording a 0.17% loss on the day, and accumulating a drop of 1.05% this month.
Up ahead for the European session, the ECB will release the Monthly Report, while the EZ will publish April industrial production figures.
EUR/GBP levels to watch
To the downside, next support levels could be found at 0.8033 (Dec 10 2012 low), 0.8003/00 (Nov 21 2012 low) and 0.7968 (Nov 13 2012 low). To the upside, resistances are seen at 0.8063 (Jun 12 high), 0.8085 (Jun 11 high) and 0.8100 (psychological level).
The EUR/GBP came under strong pressure in anticipation and response to the ECB easing measures, entering a bearish phase that has extended into a seventh consecutive day. The EUR/GBP broke below the 0.8060 area and hit its lowest level since December 2012 at 0.8041 in recent dealings.
At time of writing, the EUR/GBP is trading at the 0.8045 area, recording a 0.17% loss on the day, and accumulating a drop of 1.05% this month.
Up ahead for the European session, the ECB will release the Monthly Report, while the EZ will publish April industrial production figures.
EUR/GBP levels to watch
To the downside, next support levels could be found at 0.8033 (Dec 10 2012 low), 0.8003/00 (Nov 21 2012 low) and 0.7968 (Nov 13 2012 low). To the upside, resistances are seen at 0.8063 (Jun 12 high), 0.8085 (Jun 11 high) and 0.8100 (psychological level).