27 Jan 2015
EUR/GBP at fresh session highs, UK GDP data in focus
FXStreet (Mumbai) - The Euro erased previous losses and traded flat against the pound as the cross looks for clear direction before the UK GDP print for Q4 2014 due for release later today.
The EUR/GBP pair remains close to fresh session high posted at 0.7458 levels few minutes ago. The pound is expected to remain elevated against the common currency as traders expect the UK GDP to expand by 0.6% in Q4, coming out in line with market expectations.
Moreover, in absence of any Euro area economic releases for the day, the cross may likely track developments from the UK end.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7506 and above which it could extend gains to at 0.7583 levels. To the downside immediate support might be located at 0.7427 and below that at 0.7400 levels.
The EUR/GBP pair remains close to fresh session high posted at 0.7458 levels few minutes ago. The pound is expected to remain elevated against the common currency as traders expect the UK GDP to expand by 0.6% in Q4, coming out in line with market expectations.
Moreover, in absence of any Euro area economic releases for the day, the cross may likely track developments from the UK end.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7506 and above which it could extend gains to at 0.7583 levels. To the downside immediate support might be located at 0.7427 and below that at 0.7400 levels.