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6 Aug 2014
EUR/GBP edges higher but lacks momentum
FXStreet (Córdoba) - The EUR/GBP edged a tad higher following the UK GDP estimation release, but remained well within today’s range and off the highs scored earlier during the European session.
The latest recovery attempt was capped by the 0.7945 zone sending the EUR/GBP back to the 0.7920 zone before resuming the climb driven by GDP data. UK economy grew 0.6% in the 3 months to July, according to NIESR estimation.
EUR/GBP technical levels
At time of writing, the EUR/GBP is trading at 0.7940, 0.25% above its opening price, with immediate resistances seen at 0.7944 (Aug 6 high) and 0.7965 (Aug 5 high), while supports line up at 0.7915/3 (Aug 6 & Jul 31 lows) and 0.7900 (psychological level).
The latest recovery attempt was capped by the 0.7945 zone sending the EUR/GBP back to the 0.7920 zone before resuming the climb driven by GDP data. UK economy grew 0.6% in the 3 months to July, according to NIESR estimation.
EUR/GBP technical levels
At time of writing, the EUR/GBP is trading at 0.7940, 0.25% above its opening price, with immediate resistances seen at 0.7944 (Aug 6 high) and 0.7965 (Aug 5 high), while supports line up at 0.7915/3 (Aug 6 & Jul 31 lows) and 0.7900 (psychological level).