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15 Dec 2014
EUR/GBP trades above 0.79 handle
FXStreet (Mumbai) - EUR/GBP trades lower following a choppy session seen in early Asian hours, as US dollars bulls jump back in the bid – although a modest one against the common currency.
Currently, the EUR/USD pair is seen trading down at 1.2444 levels, which pushed EUR/GBP lower by 0.14% to 0.7918 levels. The British pound remains elevated as long as US dollar resumes strength against the Euro, in absence of any economic data from the UK and the Euro zone during the European session.
Currently, the sterling trades almost unchanged against the US dollar at 1.5716 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7943 (Dec 12 High) and above which it could extend gains to 0.7977 (Dec 1 High) levels. To the downside immediate support might be located at 0.7907 (100-day SMA) and below that at 0.7893 (200-day SMA) levels.
Currently, the EUR/USD pair is seen trading down at 1.2444 levels, which pushed EUR/GBP lower by 0.14% to 0.7918 levels. The British pound remains elevated as long as US dollar resumes strength against the Euro, in absence of any economic data from the UK and the Euro zone during the European session.
Currently, the sterling trades almost unchanged against the US dollar at 1.5716 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7943 (Dec 12 High) and above which it could extend gains to 0.7977 (Dec 1 High) levels. To the downside immediate support might be located at 0.7907 (100-day SMA) and below that at 0.7893 (200-day SMA) levels.