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24 Feb 2015
EUR/GBP sinks to fresh 7-year lows
FXStreet (Mumbai) - EUR/GBP fell to fresh seven year lows in the European session, extending losses from the previous session largely on persistent weakness in the shared currency.
EUR/GBP sustains above 0.7300 levels
The EUR/GBP pair now trades lower by -0.20% reaching a new seven year low at 0.7316 levels. EUR/GBP remained subdued largely on a weaker euro across the board amid ongoing Greece talks at the Euro group meeting. The cross remained uninspired by the upbeat German GDP data as focus now shifts towards EMU CPI for major impacts on EUR/GBP. While, pound trades flat ahead of the Bank of England (BOE) Governor Carney’s testimony and the latest inflation report hearings.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7367 (5-DMA) and above which it could extend gains to at 0.7383 (10-DMA) levels. To the downside immediate support might be located at 0.7300 (2008 Lows) and below that at 0.7280 (2008 Lows) levels.
EUR/GBP sustains above 0.7300 levels
The EUR/GBP pair now trades lower by -0.20% reaching a new seven year low at 0.7316 levels. EUR/GBP remained subdued largely on a weaker euro across the board amid ongoing Greece talks at the Euro group meeting. The cross remained uninspired by the upbeat German GDP data as focus now shifts towards EMU CPI for major impacts on EUR/GBP. While, pound trades flat ahead of the Bank of England (BOE) Governor Carney’s testimony and the latest inflation report hearings.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7367 (5-DMA) and above which it could extend gains to at 0.7383 (10-DMA) levels. To the downside immediate support might be located at 0.7300 (2008 Lows) and below that at 0.7280 (2008 Lows) levels.