22 Dec 2014
EUR/GBP recovers ground after 4 days of losses
FXStreet (Córdoba) - The euro bounced off a 2-year low versus the dollar and edged higher against the pound and the yen as risk aversion eased across financial markets.
EUR/GBP is rising after four consecutive trading days of losses, having hit a daily high of 0.7858 in recent dealings. Liquidity remains low and the economic calendar is pretty light for the day offering little inspiration to currencies. Investors will be watching tomorrow’s UK GDP data release.
EUR/GBP levels to watch
At time of writing, EUR/GBP is trading at 0.7848, recording % gain on the day, and with immediate resistances lining up at 0.7900 (psychological level/20-day SMA) and 0.7925 (Dec 19 high). On the flip side, supports are seen at 0.7812 (Dec 19 low) and 0.7800 (psycological level) ahead of 0.7765 (2014 low Sep 30).
EUR/GBP is rising after four consecutive trading days of losses, having hit a daily high of 0.7858 in recent dealings. Liquidity remains low and the economic calendar is pretty light for the day offering little inspiration to currencies. Investors will be watching tomorrow’s UK GDP data release.
EUR/GBP levels to watch
At time of writing, EUR/GBP is trading at 0.7848, recording % gain on the day, and with immediate resistances lining up at 0.7900 (psychological level/20-day SMA) and 0.7925 (Dec 19 high). On the flip side, supports are seen at 0.7812 (Dec 19 low) and 0.7800 (psycological level) ahead of 0.7765 (2014 low Sep 30).