16 Feb 2015
Eurozone Trade balance ignored by EUR/GBP pair
FXStreet (Mumbai) - The sharp rise in the Eurozone trade surplus in December reported by the official authority failed to trigger any moves in the EUR/GBP pair, which continues to hover just above 0.74 levels.
Keeps 0.74-0.7412 range
The pair has been restricted in the range of 0.74-0.7412 since last couple of hours. The range remained intact despite the official data released today showed the Eurozone trade surplus in December rose to EUR 23.3 billion, up from the previous month’s surplus of EUR 21.6 billion.
Moreover, the investors prefer to stay on the sidelines ahead of the Eurogroup meeting, which could create a short-term fix for the Greece’s debt issue.
EUR/GBP Technical Levels
The pair has an immediate resistance at 0.7412, above which gains could be extended to 0.7421 levels. On the flip side, a break below 0.7402 could push the pair down to 0.7390 levels.
Keeps 0.74-0.7412 range
The pair has been restricted in the range of 0.74-0.7412 since last couple of hours. The range remained intact despite the official data released today showed the Eurozone trade surplus in December rose to EUR 23.3 billion, up from the previous month’s surplus of EUR 21.6 billion.
Moreover, the investors prefer to stay on the sidelines ahead of the Eurogroup meeting, which could create a short-term fix for the Greece’s debt issue.
EUR/GBP Technical Levels
The pair has an immediate resistance at 0.7412, above which gains could be extended to 0.7421 levels. On the flip side, a break below 0.7402 could push the pair down to 0.7390 levels.