28 Nov 2014
EUR/GBP reaches 1-week high
FXStreet (Córdoba) - Euro strengthened across the board over the last hours and rose to fresh daily highs versus major rivals following in line with expectations Eurozone CPI figures.
Eurozone CPI eased to 0.3% in November from 0.4% the previous month, matching consensus forecast ahead of next week’s European Central Bank meeting.
EUR/GBP rose further and reached 0.7951, its highest level in a week, before the 10-day SMA offered resistance. At time of writing, the pair is trading at 0.7945, recording a 0.32% gain Friday. The euro is also headed for a weekly gain versus the pound.
EUR/GBP supports & resistances
As for technical levels, if EUR/GBP breaks decisively above 0.7950, next resistances are seen at 0.8000/01 (psychological level/Nov 21 high), 0.8026 (Nov 20 high) and 0.8042 (200-day SMA). On the other hand, supports could be found at 0.7903/00 (21-day SMA/psychological levels) and 0.7885 (50-day SMA).
Eurozone CPI eased to 0.3% in November from 0.4% the previous month, matching consensus forecast ahead of next week’s European Central Bank meeting.
EUR/GBP rose further and reached 0.7951, its highest level in a week, before the 10-day SMA offered resistance. At time of writing, the pair is trading at 0.7945, recording a 0.32% gain Friday. The euro is also headed for a weekly gain versus the pound.
EUR/GBP supports & resistances
As for technical levels, if EUR/GBP breaks decisively above 0.7950, next resistances are seen at 0.8000/01 (psychological level/Nov 21 high), 0.8026 (Nov 20 high) and 0.8042 (200-day SMA). On the other hand, supports could be found at 0.7903/00 (21-day SMA/psychological levels) and 0.7885 (50-day SMA).