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9 Jan 2015
EUR/GBP little changed as German Industrial Production contracts
FXStreet (Mumbai) - The single currency traded unchanged against the British pound today, snapping its uptrend trend from the Asian session, as markets were left unimpressed by the sluggish German industrial production numbers.
The EUR/GBP pair now trades flat at day’s low levels of 0.7811 levels, having posted days’ high at 0.7825 levels earlier in the day. The EUR/GBP gave away earlier gains and turned slightly into red as the recently released weaker German data failed to create any move in the cross.
The EUR/GBP cross is expected to trade cautious ahead of Britain’s manufacturing production number due for release shortly.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7850 (Jan 5 High) and above which it could extend gains to at 0.7875 (Jan 6 High) levels. To the downside immediate support might be located at 0.7802 and below that at 0.7762 (Jan 1 Low) levels.
The EUR/GBP pair now trades flat at day’s low levels of 0.7811 levels, having posted days’ high at 0.7825 levels earlier in the day. The EUR/GBP gave away earlier gains and turned slightly into red as the recently released weaker German data failed to create any move in the cross.
The EUR/GBP cross is expected to trade cautious ahead of Britain’s manufacturing production number due for release shortly.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7850 (Jan 5 High) and above which it could extend gains to at 0.7875 (Jan 6 High) levels. To the downside immediate support might be located at 0.7802 and below that at 0.7762 (Jan 1 Low) levels.