13 Feb 2015
EUR/GBP unperturbed by cheerful German data
FXStreet (Mumbai) - EUR/GBP pulled away from fresh seven year lows reached in the previous session and traded largely unchanged, shrugging off better than estimates German Q4 2014 GDP numbers.
EUR/GBP unmoved by bullish German data
The EUR/GBP pair trades flat at 0.7413 levels, having posted session highs at 0.7420 before the data release. EUR/GBP failed to react to the stellar German growth number confirming that the Euro zone’s economic powerhouse is well away from recessionary phase.
Economic output in Germany posted 0.7% growth Q4 2014, after showing a meagre 0.1% improvement in Q3, beating market expectations. On a yearly basis, the gauge revealed a 1.6% increase, exceeding estimates, and better than the previous quarter's 1.2% upturn.
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 0.7499 levels. To the downside immediate support might be located at 0.7400 and below that at 0.7383 levels.
EUR/GBP unmoved by bullish German data
The EUR/GBP pair trades flat at 0.7413 levels, having posted session highs at 0.7420 before the data release. EUR/GBP failed to react to the stellar German growth number confirming that the Euro zone’s economic powerhouse is well away from recessionary phase.
Economic output in Germany posted 0.7% growth Q4 2014, after showing a meagre 0.1% improvement in Q3, beating market expectations. On a yearly basis, the gauge revealed a 1.6% increase, exceeding estimates, and better than the previous quarter's 1.2% upturn.
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 0.7499 levels. To the downside immediate support might be located at 0.7400 and below that at 0.7383 levels.