18 Dec 2014
EUR/GBP trades lower ahead of UK retail sales data
FXStreet (Mumbai) - The single currency edged lower against the sterling after the pound erased earlier losses against the US dollar ahead of UK retail sales data.
Currently, the EUR/GBP pair trades at 0.7910 levels, down -0.16% on the day having posted a high of 0.7922 levels. The EUR/GBP pair trades lower as the single currency continues to slide against the greenback, despite a better than forecasts German Ifo Business Climate data expected. The pound remains support against the Euro as traders eye Britain’s retail sales numbers to be released shortly for further direction on the pair.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7943 (Dec 12 High) and above which it could extend gains to at 0.7974 (Dec 15 High) levels. To the downside immediate support might be located at 0.7882 (Dec 9 Low) and below that at 0.7842 (Dec 5 Low) levels.
Currently, the EUR/GBP pair trades at 0.7910 levels, down -0.16% on the day having posted a high of 0.7922 levels. The EUR/GBP pair trades lower as the single currency continues to slide against the greenback, despite a better than forecasts German Ifo Business Climate data expected. The pound remains support against the Euro as traders eye Britain’s retail sales numbers to be released shortly for further direction on the pair.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7943 (Dec 12 High) and above which it could extend gains to at 0.7974 (Dec 15 High) levels. To the downside immediate support might be located at 0.7882 (Dec 9 Low) and below that at 0.7842 (Dec 5 Low) levels.