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6 Jan 2015
EUR/GBP steadies after Mixed Euro Zone PMIs, UK PMI in focus
FXStreet (Mumbai) - The single currency managed to hold modest gains against the British pound today as the pair may be poised to test 0.78 levels after mixed PMI readings from the member nations failed to provide support to the EUR/GBP cross.
The EUR/GBP pair now trades flat at 0.7833 levels, having posted days’ high at 0.7844 levels in the Asian session. The EUR/GBP is expected to remain pressured as the European Central Bank (ECB) is set to unveil full-blown QE soon.
Markets now shift their attention towards Services PMI from the UK due to be released shortly.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7846 (Dec 30 High) and above which it could extend gains to at 0.7870 (Dec 26 High) levels. To the downside immediate support might be located at 0.78 and below that at 0.7762 (Jan 1 Low) levels.
The EUR/GBP pair now trades flat at 0.7833 levels, having posted days’ high at 0.7844 levels in the Asian session. The EUR/GBP is expected to remain pressured as the European Central Bank (ECB) is set to unveil full-blown QE soon.
Markets now shift their attention towards Services PMI from the UK due to be released shortly.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7846 (Dec 30 High) and above which it could extend gains to at 0.7870 (Dec 26 High) levels. To the downside immediate support might be located at 0.78 and below that at 0.7762 (Jan 1 Low) levels.