9 Dec 2014
EUR/GBP stuck at 10-DMA
FXStreet (Mumbai) - The EUR/GBP pair gained today after the disappointing Industrial Production data in the UK hit the wires, although the 10-DMA capped gains in the pair.
The pair now trades 0.39% higher at 0.7903 levels after declining slightly from a high of 0.7907 levels. The EUR continued to advance today on strong German trade data and a slowdown in the European Central Bank’s (ECB) asset purchases during the last week. Meanwhile, a weaker-than-expected industrial production data in the UK pushed the GBP lower against the US dollar.
EUR/GBP Technical Levels
The pair has an immediate resistance located at 0.7904 (10-DMA), above which the 100-DMA level located at 0.7917 may be tested. Meanwhile, support is seen at 0.7897 (50-DMA) and 0.7881 (5-DMA).
The pair now trades 0.39% higher at 0.7903 levels after declining slightly from a high of 0.7907 levels. The EUR continued to advance today on strong German trade data and a slowdown in the European Central Bank’s (ECB) asset purchases during the last week. Meanwhile, a weaker-than-expected industrial production data in the UK pushed the GBP lower against the US dollar.
EUR/GBP Technical Levels
The pair has an immediate resistance located at 0.7904 (10-DMA), above which the 100-DMA level located at 0.7917 may be tested. Meanwhile, support is seen at 0.7897 (50-DMA) and 0.7881 (5-DMA).