17 Feb 2015
EUR/GBP uninspired by Zew survey data
FXStreet (Mumbai) - The EUR/GBP pair remains unchanged around 0.74 levels after the Zew data showed a decent jump in the Eurozone economic sentiment index in February.
EUR/GBP keeps 0.7415-0.74 range
The pair continues to hover in the range of 0.7415-0.74 levels despite the Eurozone economic sentiment index printing at 52.7 in February, compared to 45.2 in January. The single currency could have struggled to extend gains due to German the economic sentiment printing in 53.0, missing the estimate of 55.00. However, sentiment improved from January’s 48.4.
The upbeat data pushed the EUR/USD higher to 1.1388 levels. However, the GBP/USD also recovered from the low of 1.5337 to trade at 1.5386 levels. Consequently, the EUR/GBP cross was restricted to a narrow range.
EUR/GBP Technical Levels
The immediate resistance is seen at 0.7424 and 0.7453 levels. On the flip side, support is seen at 0.7390 and 0.7370 levels.
EUR/GBP keeps 0.7415-0.74 range
The pair continues to hover in the range of 0.7415-0.74 levels despite the Eurozone economic sentiment index printing at 52.7 in February, compared to 45.2 in January. The single currency could have struggled to extend gains due to German the economic sentiment printing in 53.0, missing the estimate of 55.00. However, sentiment improved from January’s 48.4.
The upbeat data pushed the EUR/USD higher to 1.1388 levels. However, the GBP/USD also recovered from the low of 1.5337 to trade at 1.5386 levels. Consequently, the EUR/GBP cross was restricted to a narrow range.
EUR/GBP Technical Levels
The immediate resistance is seen at 0.7424 and 0.7453 levels. On the flip side, support is seen at 0.7390 and 0.7370 levels.