23 Dec 2014
EUR/GBP steady, UK GDP data in focus
FXStreet (Mumbai) - The single currency trades slightly elevated against the British pound as traders await UK third quarter GDP numbers.
Currently, the EUR/GBP pair trades modestly flat at 0.7847 levels, after having posted day’s high of 0.7856 levels some minutes ago. The pound remains subdued against the Euro as market shift their attention towards the final estimate of third quarter GDP in the UK, which is expected to show no change to headline figures. The EUR/GBP pair also gained support after France’s final GDP rose in the third quarter, confirming the preliminary results.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7862 (Dec 19 High) and above which it could extend gains to at 0.7903 (Dec 8 High) levels. To the downside immediate support might be located at 0.7818 (Nov 11 Low) and below that at 0.7795 (Nov 6 Low) levels.
Currently, the EUR/GBP pair trades modestly flat at 0.7847 levels, after having posted day’s high of 0.7856 levels some minutes ago. The pound remains subdued against the Euro as market shift their attention towards the final estimate of third quarter GDP in the UK, which is expected to show no change to headline figures. The EUR/GBP pair also gained support after France’s final GDP rose in the third quarter, confirming the preliminary results.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7862 (Dec 19 High) and above which it could extend gains to at 0.7903 (Dec 8 High) levels. To the downside immediate support might be located at 0.7818 (Nov 11 Low) and below that at 0.7795 (Nov 6 Low) levels.