17 Feb 2015
EUR/GBP off highs but holds onto daily gains
FXStreet (Córdoba) - The euro shrugged off EU-Greek negotiations stalemate and rose across the board on Tuesday, recovering ground and moving away from a 7-year low against the pound.
EUR/GBP bottomed out at 0.7374, just a few pips above its 7-year low scored last week at 0.7371 and bounced, climbing as high as 0.7443 before finding resistance. Upbeat Zew sentiment data helped the euro, while the pound failed to sustain gains post-UK inflation figures.
EUR/GBP levels to watch
At time of writing, EUR/GBP is trading at 0.7425, recording a 0.57% gain on the day, with immediate resistances seen at 0.7443 (daily high) and 0.7454 (Feb 12 high) ahead of 0.7474 (20-day SMA). On the other hand, supports could be found at 0.7371 (7-year low Feb 12), 0.7361 (Jan 2 2008 low) and 0.7319 (Dec 31 2007 low).
EUR/GBP bottomed out at 0.7374, just a few pips above its 7-year low scored last week at 0.7371 and bounced, climbing as high as 0.7443 before finding resistance. Upbeat Zew sentiment data helped the euro, while the pound failed to sustain gains post-UK inflation figures.
EUR/GBP levels to watch
At time of writing, EUR/GBP is trading at 0.7425, recording a 0.57% gain on the day, with immediate resistances seen at 0.7443 (daily high) and 0.7454 (Feb 12 high) ahead of 0.7474 (20-day SMA). On the other hand, supports could be found at 0.7371 (7-year low Feb 12), 0.7361 (Jan 2 2008 low) and 0.7319 (Dec 31 2007 low).