EUR/GBP hits fresh 18-month lows

By FXstreet.com | June 12, 2014 AAA

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).



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