29 Apr 2015
EUR/GBP sees no action
FXStreet (Mumbai) - The EUR/GBP pair remains stuck in the range of 0.7135-1.7155 as the investors hardly reacted to the upbeat Italian confidence indicators and an uptick in the Spanish retail sales.
Rejected at 5-DMA
The pair failed to sustain gains above the 5-DMA located at 0.7150, after which it fell to a low of 0.7135. The uptick in the Spanish retail sales helped the pair recover to 0.7145. However, further gains were capped by a drop in the Italian consumer confidence in April to 108.2. Meanwhile, the rise in the Eurozone money supply indicator was shrugged off by the markets.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7168 (10-DMA), above which gains could be extended to 0.7200. On the flip side, a break below 0.7130 could push the pair down to 0.71 levels.
Rejected at 5-DMA
The pair failed to sustain gains above the 5-DMA located at 0.7150, after which it fell to a low of 0.7135. The uptick in the Spanish retail sales helped the pair recover to 0.7145. However, further gains were capped by a drop in the Italian consumer confidence in April to 108.2. Meanwhile, the rise in the Eurozone money supply indicator was shrugged off by the markets.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7168 (10-DMA), above which gains could be extended to 0.7200. On the flip side, a break below 0.7130 could push the pair down to 0.71 levels.