Back
16 Sep 2015
EUR/GBP slumps to 0.7280
FXStreet (Edinburgh) - The sudden buying interest in the sterling coupled with the accelerated downside in the euro is dragging EUR/GBP to fresh lows near 0.7280.
EUR/GBP weaker on M&A rumours, EMU data
The cross has renewed its daily decline after consumer prices in the euro bloc have come in lower than anticipated by markets, with headline prices rose 0.1% YoY and the Core print came in at 0.9% over the last twelve months.
On the opposite side, UK’s labour market results have surprised to the upside today, sustaining the upbeat momentum in the sterling. Furthermore, rumours in the M&A sector involving Belgian AB Inbev and UK SAB Miller have been also supporting the bid tone around GBP.
EUR/GBP key levels
At the moment the cross is losing 0.75% at 0.7292 and a breach of 0.7284 (low Sep.16) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the next resistance aligns at 0.7362 (high Sep.16) followed by 0.7376 (high Sep.3) and then 0.7398 (high Sep.2).
EUR/GBP weaker on M&A rumours, EMU data
The cross has renewed its daily decline after consumer prices in the euro bloc have come in lower than anticipated by markets, with headline prices rose 0.1% YoY and the Core print came in at 0.9% over the last twelve months.
On the opposite side, UK’s labour market results have surprised to the upside today, sustaining the upbeat momentum in the sterling. Furthermore, rumours in the M&A sector involving Belgian AB Inbev and UK SAB Miller have been also supporting the bid tone around GBP.
EUR/GBP key levels
At the moment the cross is losing 0.75% at 0.7292 and a breach of 0.7284 (low Sep.16) would aim for 0.7151 (low Aug.21) and finally 0.7091 (low Aug.20). On the other hand, the next resistance aligns at 0.7362 (high Sep.16) followed by 0.7376 (high Sep.3) and then 0.7398 (high Sep.2).