20 Mar 2015
EUR/GBP unmoved by upbeat EZ data
FXStreet (Mumbai) - The euro rebounded versus the British pound in the mid-European session, keeping EUR/GBP well supported above 0.7225 levels, as the better than forecast Euro zone trade data did little to lift the shared currency.
EUR/GBP hovers around 0.7240
Currently, the EUR/GBP cross trades higher by 0.21% at 0.7240 levels, retreating from session highs posted at 0.7251 levels before the data release. The cross in EUR/GBP kept gains as the euro remained unimpressed after data showed that EZ current account surplus widened in January from a month ago.
On the GBP-side of the equation, GBP/USD continues to be pressured after dovish talks from BOE’s Haldane yesterday. Traders may focus on UK public sector borrowings data due out shortly for further incentives on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7277 and above which it could extend gains to at 0.7300 levels. To the downside immediate support might be located at 0.7225 levels below that at 0.7170 levels.
EUR/GBP hovers around 0.7240
Currently, the EUR/GBP cross trades higher by 0.21% at 0.7240 levels, retreating from session highs posted at 0.7251 levels before the data release. The cross in EUR/GBP kept gains as the euro remained unimpressed after data showed that EZ current account surplus widened in January from a month ago.
On the GBP-side of the equation, GBP/USD continues to be pressured after dovish talks from BOE’s Haldane yesterday. Traders may focus on UK public sector borrowings data due out shortly for further incentives on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7277 and above which it could extend gains to at 0.7300 levels. To the downside immediate support might be located at 0.7225 levels below that at 0.7170 levels.