19 Jan 2015
EUR/GBP capped at 5-DMA
FXStreet (Mumbai) - The EUR/GBP pair witnessed a technical recovery today, although the pair struggled to sustain gains above the 5-DMA located at 0.7666 levels.
The pair currently trades 0.31% higher at 0.7659 levels, after having eased-off slightly from the session high of 0.7667 levels. The pair recovered despite the official data in the Eurozone showed the current account surplus narrowed to EUR 18.1 billion in November. Moreover, the EUR has outperformed the GBP on technical recovery after being smoked in the last week on the increased expectations of QE. The EUR/USD pair gained 0.45% to trade at 1.1620 levels, while the GBP/USD pair gained 0.16% at 1.5174 levels. Consequently, the EUR/GBP pair gained 0.31%.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7675 (Jan. 16th high), above which gains could be extended to 0.7742 (Jan. 2nd high). Meanwhile, support is seen at 0.7630 and 0.7592 levels.
The pair currently trades 0.31% higher at 0.7659 levels, after having eased-off slightly from the session high of 0.7667 levels. The pair recovered despite the official data in the Eurozone showed the current account surplus narrowed to EUR 18.1 billion in November. Moreover, the EUR has outperformed the GBP on technical recovery after being smoked in the last week on the increased expectations of QE. The EUR/USD pair gained 0.45% to trade at 1.1620 levels, while the GBP/USD pair gained 0.16% at 1.5174 levels. Consequently, the EUR/GBP pair gained 0.31%.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7675 (Jan. 16th high), above which gains could be extended to 0.7742 (Jan. 2nd high). Meanwhile, support is seen at 0.7630 and 0.7592 levels.