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14 Jan 2015
EUR/GBP unmoved after upbeat Euro zone data
FXStreet (Mumbai) - The single currency remained little changed against the British pound, after upbeat Euro zone industrial production data.
The EUR/GBP pair now trades at 0.7741 levels, down -0.33% having posted fresh daily lows at 0.7733 levels after the ECJ decision. The EUR /GBP cross remained unperturbed by the positive data which showed that the Euro zone Union industrial production both on month on month and annual basis came in better than market forecasts.
The markets now eye fresh cues from Merkel, Schaeuble and Draghi speech at a closed-door conference in Berlin for further momentum on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7766 (20-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 0.7750 and below that at 0.7720 levels.
The EUR/GBP pair now trades at 0.7741 levels, down -0.33% having posted fresh daily lows at 0.7733 levels after the ECJ decision. The EUR /GBP cross remained unperturbed by the positive data which showed that the Euro zone Union industrial production both on month on month and annual basis came in better than market forecasts.
The markets now eye fresh cues from Merkel, Schaeuble and Draghi speech at a closed-door conference in Berlin for further momentum on the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7766 (20-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 0.7750 and below that at 0.7720 levels.