19 Dec 2014
EUR/GBP recovers from 2-week low
FXStreet (Mumbai) - The single currency regained strength versus the British pound and edged higher, recovering from two-week lows reached during the previous session.
Currently, the EUR/GBP pair trades at 0.7847 levels, up 0.10% on the day, having posted a new 2-week low of 0.7833 levels in the previous session. The pound rose against the single currency after UK retail sales volumes soared in November. The Euro remains supported against the pound ahead of GfK German Consumer Climate data and as 2nd day of EU Summit begins.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7903 (Dec 8 High) and above which it could extend gains to at 0.7933 (Dec 9 High) levels. To the downside immediate support might be located at 0.7833 (Dec 18 Low) and below that at 0.78 levels.
Currently, the EUR/GBP pair trades at 0.7847 levels, up 0.10% on the day, having posted a new 2-week low of 0.7833 levels in the previous session. The pound rose against the single currency after UK retail sales volumes soared in November. The Euro remains supported against the pound ahead of GfK German Consumer Climate data and as 2nd day of EU Summit begins.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7903 (Dec 8 High) and above which it could extend gains to at 0.7933 (Dec 9 High) levels. To the downside immediate support might be located at 0.7833 (Dec 18 Low) and below that at 0.78 levels.