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15 Apr 2015
EUR/GBP keeps losses below 0.72
FXStreet (Mumbai) - The shared currency continues to get beaten by the pound in the European session; keeping EUR/GBP pressured below 0.72, as downbeat Euro zone trade balance weighs further on the euro as traders await ECB meeting.
EUR/GBP little changed post EZ data
Currently, the EUR/GBP cross trades lower at 0.7195 down -0.18% on the day, keep the range around 0.72 post data release. The cross in EUR/GBP remains pressured as weakness in the shared currency outweighs that seen in the pound.
The euro continues to weaken versus the USD ahead of the European Central Bank's (ECB) monetary policy decision later in the session and the following press conference.
On the other hand, the pound also remains vulnerable against the US dollar on the latest dismal UK CPI data.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7220 and above which it could extend gains to at 0.7250 levels. To the downside immediate support might be located at 0.7186 (Today’s Low) levels below that at 0.7152 (March 19 Low) levels.
EUR/GBP little changed post EZ data
Currently, the EUR/GBP cross trades lower at 0.7195 down -0.18% on the day, keep the range around 0.72 post data release. The cross in EUR/GBP remains pressured as weakness in the shared currency outweighs that seen in the pound.
The euro continues to weaken versus the USD ahead of the European Central Bank's (ECB) monetary policy decision later in the session and the following press conference.
On the other hand, the pound also remains vulnerable against the US dollar on the latest dismal UK CPI data.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7220 and above which it could extend gains to at 0.7250 levels. To the downside immediate support might be located at 0.7186 (Today’s Low) levels below that at 0.7152 (March 19 Low) levels.