14 Mar 2014
EUR/GBP nears yesterday's highs
FXStreet (Córdoba) - The EUR/GBP has almost completely erased yesterday's losses and is on track to retest highs as the pair received a boost in the wake of disappointing UK trade data.
The UK trade deficit widened to £9.79 billion during January, missing forecast of £8.7 billion and up from £7.66 billion in the previous month. The EUR/GBP continued to move higher and recently printed a high of 0.8371. At time of writing, the EUR/GBP is trading at the 0.8365 area, recording a 0.3% gain Friday.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate resistances at 0.8377 (Mar 13 high), 0.8391 (Dec 27 high) and 0.8400 (psychological level). On the other hand, supports are seen at 0.8334 (Mar 14 low), 0.8325 (100-day SMA) and 0.8300 (psychological level).
The UK trade deficit widened to £9.79 billion during January, missing forecast of £8.7 billion and up from £7.66 billion in the previous month. The EUR/GBP continued to move higher and recently printed a high of 0.8371. At time of writing, the EUR/GBP is trading at the 0.8365 area, recording a 0.3% gain Friday.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate resistances at 0.8377 (Mar 13 high), 0.8391 (Dec 27 high) and 0.8400 (psychological level). On the other hand, supports are seen at 0.8334 (Mar 14 low), 0.8325 (100-day SMA) and 0.8300 (psychological level).