Closed in NY at $1.5333, the rate having been pulled higher by EUR/USD stronger recovery to a session high of $1.5367, as it recovered off early Europe lows of $1.5279. EUR/GBP recovery driving to stg0.8374 provided a counter. GBP marked lows in Asia into early trade at $1.5332 before edging up to an early high of $1.5346 before rate gained a late session boost on the back of EUR/USD spike higher as it reacted to a press report suggesting a Greek debt accord is close to agreement. GBP spiked to $1.5395, as EUR/GBP continued to meet resistance within the area between stg0.8370/80, marking a high at stg0.8375. GBP holding firm into early Europe, currently around $1.5382, while EUR/GBP trades around stg0.8360. GBP offers seen placed from $1.5395 and extend to $1.5410, a break to open a move toward $1.5445/55 ($1.5447 Jan10 low/$1.5448 76.4% $1.5500/1.5279). Support seen into $1.5350, stops below $1.5340. EUR/GBP offers remain between stg0.8375/80, a break opens a move to stg0.8400-10, stronger at stg0.8420/25. Support stg0.8350, stg0.8330.
EasyForexNews Research Team