23 Dec 2014
EUR/GBP stuck near 5-DMA
FXStreet (Mumbai) - The EUR/GBP pair is stuck near 5-DMA located at 0.7858, after failing to sustain gains at the day’s high of 0.7870 levels.
The pair currently trades 0.18% higher for the day at 0.7858 levels. Earlier today, the pair had clocked a high of 0.7870 as a weaker-than-expected third quarter GDP reading in the UK pushed the GBP/USD pair lower, while the EUR/USD pair traded largely unchanged. However, the EUR/USD resumed the fall to trade below 1.22 levels after the US third quarter GDP came-in much higher than expected at 5.00%. Thus, the EUR/GBP cross fell from the day’s high to trade at 0.7858 levels.
EUR/GBP Technical levels
The pair could re-test 0.7870, if it manages to rise above the 5-DMA located at 0.7858 levels. On the other hand, support is seen at 0.7840 and 0.7820 levels respectively.
The pair currently trades 0.18% higher for the day at 0.7858 levels. Earlier today, the pair had clocked a high of 0.7870 as a weaker-than-expected third quarter GDP reading in the UK pushed the GBP/USD pair lower, while the EUR/USD pair traded largely unchanged. However, the EUR/USD resumed the fall to trade below 1.22 levels after the US third quarter GDP came-in much higher than expected at 5.00%. Thus, the EUR/GBP cross fell from the day’s high to trade at 0.7858 levels.
EUR/GBP Technical levels
The pair could re-test 0.7870, if it manages to rise above the 5-DMA located at 0.7858 levels. On the other hand, support is seen at 0.7840 and 0.7820 levels respectively.