22 Jan 2015
EUR/GBP ticks down after UK data
FXStreet (Mumbai) - The pound gained against the single currency after UK public sector borrowing data came in significantly above expectations in December.
The EUR/GBP pair now trades at 0.7658 levels, down -0.12% on the day, having previously posted days’ high at 0.7670. The EUR/GBP cross inched lower after better-than expected UK Public finances data which came in at 13.1 billion pounds against expectations of a much lower figure and 2.9 billion pounds higher than it was in December last year.
However, the pair remains pressured ahead of ECB Monetary Policy meeting later in the session.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7694 (Jan 20 High) and above which it could extend gains to at 0.7720 (10-DMA) levels. To the downside immediate support might be located at 0.7613 (Jan 19 Low) and below that at 0.7592 (Jan 16 Low) levels.
The EUR/GBP pair now trades at 0.7658 levels, down -0.12% on the day, having previously posted days’ high at 0.7670. The EUR/GBP cross inched lower after better-than expected UK Public finances data which came in at 13.1 billion pounds against expectations of a much lower figure and 2.9 billion pounds higher than it was in December last year.
However, the pair remains pressured ahead of ECB Monetary Policy meeting later in the session.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7694 (Jan 20 High) and above which it could extend gains to at 0.7720 (10-DMA) levels. To the downside immediate support might be located at 0.7613 (Jan 19 Low) and below that at 0.7592 (Jan 16 Low) levels.