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28 Jan 2015
EUR/GBP trades flat after upbeat German data
FXStreet (Mumbai) - EUR/GBP traded flat, reversing previous losses after German consumer climate improved to highest levels in thirteen years.
The EUR/GBP pair traded unchanged at 0.7490 levels, close to intraday high posted at 0.7497 an hour ago. The EUR/GBP cross edged slightly higher as the German consumers appeared more optimistic after consumer climate has improved further following a value of 9.0 points in January 2015, the overall indicator is forecasting 9.3 points for February.
Meanwhile, in absence of any major economic releases for the day, traders shift their focus on the US Fed decision later today and German CPI print on Thursday for fresh cues on the pair.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7512 and above which it could extend gains to at 0.7583 levels. To the downside immediate support might be located at 0.7427 and below that at 0.7400 levels.
The EUR/GBP pair traded unchanged at 0.7490 levels, close to intraday high posted at 0.7497 an hour ago. The EUR/GBP cross edged slightly higher as the German consumers appeared more optimistic after consumer climate has improved further following a value of 9.0 points in January 2015, the overall indicator is forecasting 9.3 points for February.
Meanwhile, in absence of any major economic releases for the day, traders shift their focus on the US Fed decision later today and German CPI print on Thursday for fresh cues on the pair.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7512 and above which it could extend gains to at 0.7583 levels. To the downside immediate support might be located at 0.7427 and below that at 0.7400 levels.