20 Jan 2015
EUR/GBP hits fresh daily lows, ignores Optimistic German ZEW
FXStreet (Mumbai) - EUR/GBP fell to fresh daily lows after the data revealed that the Germany’s ZEW Economic Sentiment improved in December, hitting the highest level since February 2014.
The EUR/GBP pair now trades at fresh days’ low of 0.7646 levels, down -0.44% on the day, having retreated from days’ high at 0.7693 posted earlier in the day. The EUR/GBP cross slipped further as the traders completely neglected improved economic sentiments in the Euro zone’s largest economy. The ZEW index, measuring German investor sentiment rose to 48.4 in January from the 34.9 in December, rebounding further from the lows seen in October.
The cross remains pressured as traders now eye Bank of England minutes and ECB Monetary meeting later this week for any major impact on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7693 (Today’s High) and above which it could extend gains to at 0.7720 (10-DMA) levels. To the downside immediate support might be located at 0.7613 (Jan 19 Low) and below that at 0.7592 (Jan 16 Low) levels.
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The EUR/GBP pair now trades at fresh days’ low of 0.7646 levels, down -0.44% on the day, having retreated from days’ high at 0.7693 posted earlier in the day. The EUR/GBP cross slipped further as the traders completely neglected improved economic sentiments in the Euro zone’s largest economy. The ZEW index, measuring German investor sentiment rose to 48.4 in January from the 34.9 in December, rebounding further from the lows seen in October.
The cross remains pressured as traders now eye Bank of England minutes and ECB Monetary meeting later this week for any major impact on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7693 (Today’s High) and above which it could extend gains to at 0.7720 (10-DMA) levels. To the downside immediate support might be located at 0.7613 (Jan 19 Low) and below that at 0.7592 (Jan 16 Low) levels.
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