16 Jan 2015
EUR/GBP consolidates above 0.7650 levels, German CPI in focus
FXStreet (Mumbai) - EUR/GBP traded almost unchanged in the late Asian session, bouncing-off from yesterday’s lows as markets now await Germany’s price pressures print due for release shortly.
The EUR/GBP pair now trades flat at 0.7660 levels, having posted days’ low at 0.7660 and day’s high at 0.7670 levels. The EUR/GBP slipped yesterday after the Euro fell to multi-year lows versus the US dollar after the SNB tsunami. However, the cross has managed to regain some lost ground and trades cautious as traders now turn their attention towards German CPI and Euro zone Union CPI for fresh direction on the pair amid lack of data from the UK.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7725 (5-DMA) and above which it could extend gains to at 0.7775 (10-DMA) levels. To the downside immediate support might be located at 0.7630 and below that at 0.7700 levels.
The EUR/GBP pair now trades flat at 0.7660 levels, having posted days’ low at 0.7660 and day’s high at 0.7670 levels. The EUR/GBP slipped yesterday after the Euro fell to multi-year lows versus the US dollar after the SNB tsunami. However, the cross has managed to regain some lost ground and trades cautious as traders now turn their attention towards German CPI and Euro zone Union CPI for fresh direction on the pair amid lack of data from the UK.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7725 (5-DMA) and above which it could extend gains to at 0.7775 (10-DMA) levels. To the downside immediate support might be located at 0.7630 and below that at 0.7700 levels.