17 Feb 2015
EUR/GBP hits session high
FXStreet (Mumbai) - The shared currency continues to strengthen amid the standoff between Greece and Eurogroup, taking the EUR/GBP pair to the day’s high of 0.7440 levels.
EUR strengthens on upbeat data, Pound hit by record low inflation
The EUR extended gains on an upbeat Eurozone and German Zew economic sentiment index, which managed to overshadow the standoff between Greece and Eurogroup over Greece’s debt deal. Meanwhile, the British Pound failed to capitalize on sharp recovery seen post the UK CPI data. The pair had dropped back to 0.75 levels as the Pound witnessed Sell the rumor, Buy the fact trade post UK inflation data release. However, the Pound could not extend gains as concerns of record low inflation eventually pushed the pair higher.
EUR/GBP Technical Levels
The resistance is seen at 0.7453, above which gains could be extended to 0.7400 levels. On the flip side, support is seen at 0.7414 (10-DMA) and 0.7390 levels.
EUR strengthens on upbeat data, Pound hit by record low inflation
The EUR extended gains on an upbeat Eurozone and German Zew economic sentiment index, which managed to overshadow the standoff between Greece and Eurogroup over Greece’s debt deal. Meanwhile, the British Pound failed to capitalize on sharp recovery seen post the UK CPI data. The pair had dropped back to 0.75 levels as the Pound witnessed Sell the rumor, Buy the fact trade post UK inflation data release. However, the Pound could not extend gains as concerns of record low inflation eventually pushed the pair higher.
EUR/GBP Technical Levels
The resistance is seen at 0.7453, above which gains could be extended to 0.7400 levels. On the flip side, support is seen at 0.7414 (10-DMA) and 0.7390 levels.