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27 Feb 2015
EUR/GBP hovers around new 7-yr lows
FXStreet (Mumbai) - EUR/GBP trades muted in the European morning, extending its choppy tend from the Asian session as both the pound and the shared currency holds steady against the US dollar ahead of German CPI data.
EUR/GBP stuck near lows below 0.7300
The EUR/GBP pair trades flat at 0.7264 levels, steadying near fresh seven year lows reached at 0.7258 levels posted an hour ago. EUR/GBP held steady as both the currencies edged higher against the US dollar, however the gains in the pound outperformed that in the euro.
Moreover, traders now focus on German CPI data and key US economic releases due later in the day for further momentum on the cross.
At the moment, GBP/USD trades 0.23% higher at 1.5439, while EUR/USD edges higher by 0.12% to trade at 1.1211 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7340 (5-DMA) and above which it could extend gains to at 0.7367 (10-DMA) levels. To the downside immediate support might be located at 0.7300 and below that at 0.7280 (2007 Lows) levels.
EUR/GBP stuck near lows below 0.7300
The EUR/GBP pair trades flat at 0.7264 levels, steadying near fresh seven year lows reached at 0.7258 levels posted an hour ago. EUR/GBP held steady as both the currencies edged higher against the US dollar, however the gains in the pound outperformed that in the euro.
Moreover, traders now focus on German CPI data and key US economic releases due later in the day for further momentum on the cross.
At the moment, GBP/USD trades 0.23% higher at 1.5439, while EUR/USD edges higher by 0.12% to trade at 1.1211 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7340 (5-DMA) and above which it could extend gains to at 0.7367 (10-DMA) levels. To the downside immediate support might be located at 0.7300 and below that at 0.7280 (2007 Lows) levels.