13 Feb 2015
EUR/GBP hovers close to fresh highs, Euro zone data eyed
FXStreet (Mumbai) - EUR/GBP bounces off seven year lows and inched higher during the European session, as traders digested surprisingly good German GDP and a ceasefire agreement in Ukraine.
EUR/GBP rises from 0.7413 levels
The EUR/GBP pair trades higher by 0.24% at 0.7430 levels, having posted session highs at 0.7434 levels an hour ago. EUR/GBP rose to fresh session highs, in a delayed reaction to the stellar German growth number confirming that the Euro zone’s economic powerhouse is well away from recessionary phase. On the other side, pound remained flat against the US dollar as BOE Inflation report-backed gains reversed as traders now eyed US macro data.
At the moment, EUR/USD held 0.25% higher at 1.1432 levels, while GBP/USD traded flat at 1.5387 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7460 and above which it could extend gains to at 0.7499 levels. To the downside immediate support might be located at 0.7400 and below that at 0.7383 levels.
EUR/GBP rises from 0.7413 levels
The EUR/GBP pair trades higher by 0.24% at 0.7430 levels, having posted session highs at 0.7434 levels an hour ago. EUR/GBP rose to fresh session highs, in a delayed reaction to the stellar German growth number confirming that the Euro zone’s economic powerhouse is well away from recessionary phase. On the other side, pound remained flat against the US dollar as BOE Inflation report-backed gains reversed as traders now eyed US macro data.
At the moment, EUR/USD held 0.25% higher at 1.1432 levels, while GBP/USD traded flat at 1.5387 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7460 and above which it could extend gains to at 0.7499 levels. To the downside immediate support might be located at 0.7400 and below that at 0.7383 levels.