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8 Jan 2015
EUR/GBP unmoved after bearish German Factory Report
FXStreet (Mumbai) - The single currency traded steady against the British pound today, continuing its choppy trend in to the European morning, as deteriorating factory orders from Germany did little to move the currency cross.
The EUR/GBP pair now trades flat at day’s high levels of 0.7839 levels, having posted days’ low at 0.7830 levels earlier in the day. The EUR/GBP is expected to trade cautious ahead of Bank of England’s (BOE) monetary policy meeting due later in the day for fresh hints on the timing of BOE’s interest rate hike which may impact the British pound.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7880 (100-DMA) and above which it could extend gains to at 0.7850 (Jan 5 High) levels. To the downside immediate support might be located at 0.7819 (10-DMA) and below that at 0.7762 (Jan 1 Low) levels.
The EUR/GBP pair now trades flat at day’s high levels of 0.7839 levels, having posted days’ low at 0.7830 levels earlier in the day. The EUR/GBP is expected to trade cautious ahead of Bank of England’s (BOE) monetary policy meeting due later in the day for fresh hints on the timing of BOE’s interest rate hike which may impact the British pound.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7880 (100-DMA) and above which it could extend gains to at 0.7850 (Jan 5 High) levels. To the downside immediate support might be located at 0.7819 (10-DMA) and below that at 0.7762 (Jan 1 Low) levels.