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29 May 2015

GBP/USD expected to hold at 1.5260 – UOB Group

FXStreet (Edinburgh) - Analyst at UOB Group remarked the strong support at 1.5260 in GBP/USD.

Key Quotes

“In line with expectation, GBP rebounded to 1.5385/90 (high of 1.5385) before dropping sharply to exceed the 1.5290 target with a low of 1.5260”.

“Downward momentum is waning rapidly and this pair is likely close to making a short-term low”.

“For today, allow for a dip to 1.5295/00 but 1.5260 is expected to hold for a move to 1.5385”.
May 29, 2015

‘We are dedicated to have Greece staying in the euro zone’ – EU’s Moscovici

Greece's exit from the euro zone is not an option for the European Commission, according to European Economic and Monetary Affairs Commissioner Pierre Moscovici, contradicting earlier comments made by International Monetary Fund Director Christine Lagarde who said such a possibility still exists.
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May 29, 2015

EUR/GBP hits fresh weekly highs near 0.7190

The shared currency continues to outperform its British counterpart in the European session, lifting EUR/GBP to fresh one week highs just shy of 0.72 barrier. The cross edged higher largely on sterling weakness as subdued UK macro data continues to weigh while impending Greece talks also keep the gains in check ahead of ECB meeting next week.
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