28 Nov 2014
EUR/GBP hovering around 0.7920
FXStreet (Córdoba) - The euro remains steady against the pound, hovering around 0.7920 for the second day in a row and holding marginal weekly gains.
EUR/GBP rises modestly after EZ inflation data
EUR/GBP bottomed on Friday at 0.7911 but then rose from 0.7915 to 0.7926, after the release of economic data from the Eurozone. According to the preliminary report from Eurostat, the"> CPI index rose in November 0.3% from a year ago; the number was in line with expectation and below last month reading of 0.4%. The unemployment rate remained at 11.5%. The euro rose modestly after the report across the board, trimming losses.
A week in ranges
The pair so far moved all week in ranges, with support around 0.7900 and resistance at 0.7940. The consolidation followed a sharp decline that occurred last week, when reversed at 0.8037 (1-month high), falling 130 pips from there.
EUR/GBP rises modestly after EZ inflation data
EUR/GBP bottomed on Friday at 0.7911 but then rose from 0.7915 to 0.7926, after the release of economic data from the Eurozone. According to the preliminary report from Eurostat, the"> CPI index rose in November 0.3% from a year ago; the number was in line with expectation and below last month reading of 0.4%. The unemployment rate remained at 11.5%. The euro rose modestly after the report across the board, trimming losses.
A week in ranges
The pair so far moved all week in ranges, with support around 0.7900 and resistance at 0.7940. The consolidation followed a sharp decline that occurred last week, when reversed at 0.8037 (1-month high), falling 130 pips from there.