12 Feb 2015
EUR/GBP jumps to fresh session highs post Euro Zone data
FXStreet (Mumbai) - EUR/GBP rallied to fresh session, breaking above the crucial 0.7450 resistance, as traders ignored sluggish EMU industrial data and turned their focus on the upcoming BOE inflation report.
EUR/GBP rises from 0.7430 levels
The EUR/GBP pair traded higher by 0.12% at 0.7447 levels, quickly retreating from fresh session highs clocked at 0.7455 levels few minutes ago. EUR/GBP edged higher shrugging off bearish EMU industrial production numbers which revealed the 19-nation bloc’s m/m industrial output remained muted, against expectations of 0.2%.
Meanwhile, traders now focus the crucial BOE Inflation report for further momentum on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7460 and above which it could extend gains to at 0.7500 levels. To the downside immediate support might be located at 0.7400 and below that at 0.7383 levels.
EUR/GBP rises from 0.7430 levels
The EUR/GBP pair traded higher by 0.12% at 0.7447 levels, quickly retreating from fresh session highs clocked at 0.7455 levels few minutes ago. EUR/GBP edged higher shrugging off bearish EMU industrial production numbers which revealed the 19-nation bloc’s m/m industrial output remained muted, against expectations of 0.2%.
Meanwhile, traders now focus the crucial BOE Inflation report for further momentum on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7460 and above which it could extend gains to at 0.7500 levels. To the downside immediate support might be located at 0.7400 and below that at 0.7383 levels.