27 Aug 2015
EUR/GBP testing highs near 0.7320
FXStreet (Mumbai) - The shared currency remains better bid versus the British pound in the early European trades, with EUR/GBP hovering near highs above 0.73 handle.
EUR/GBP supported above 0.73 handle
Currently, the EUR/GBP pair trades 0.07% higher at 0.7322, with the upside capped near 0.7370 levels. The EUR/GBP cross struggles to extend gains as the gains in the euro seems to be almost offset by the GBP strength amid broad based US dollar retreat.
Meanwhile, an empty EUR, GBP docket, leaves the traders to the mercy of the US macro data which is widely anticipated to be the main market mover this week.
US data later today will remain in focus with the latest revision to Q2 GDP expected to be revised slightly higher as a result of recent upward revisions to June data, including yesterday’s durable goods.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7367 (Aug 26 High) levels and above which it could extend gains 0.7400 levels. To the downside immediate support might be located at 0.7303 (Today’s Low) below that at 0.7256 (Aug 26 Low).
EUR/GBP supported above 0.73 handle
Currently, the EUR/GBP pair trades 0.07% higher at 0.7322, with the upside capped near 0.7370 levels. The EUR/GBP cross struggles to extend gains as the gains in the euro seems to be almost offset by the GBP strength amid broad based US dollar retreat.
Meanwhile, an empty EUR, GBP docket, leaves the traders to the mercy of the US macro data which is widely anticipated to be the main market mover this week.
US data later today will remain in focus with the latest revision to Q2 GDP expected to be revised slightly higher as a result of recent upward revisions to June data, including yesterday’s durable goods.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7367 (Aug 26 High) levels and above which it could extend gains 0.7400 levels. To the downside immediate support might be located at 0.7303 (Today’s Low) below that at 0.7256 (Aug 26 Low).