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16 Jun 2015
EUR/GBP falls into losses
FXStreet (Mumbai) - The EUR/GBP pair fell into losses to trade around 0.7220 levels as the bid tone on the British Pound strengthened at the lows on account of Greek impasse and an uptick in headline UK inflation.
Dips below 50-DMA
The pair has breached the 50-DMA currently located at 0.7224. The pair turned lower from the high of 0.7250 seen earlier today on account of Greek impasse and a rise in the UK inflation. The official data released earlier today showed the UK economy exited deflation n May.
Further offers came in below 0.7235 after the Eurozone and German Zew survey missed the consensus estimates.
EUR/GBP Technical Levels
The immediate resistance is seen at 0.7264, above which the pair could target 0.7320. On the flip side, a break below 0.72 could push the pair lower to 0.7165.
Dips below 50-DMA
The pair has breached the 50-DMA currently located at 0.7224. The pair turned lower from the high of 0.7250 seen earlier today on account of Greek impasse and a rise in the UK inflation. The official data released earlier today showed the UK economy exited deflation n May.
Further offers came in below 0.7235 after the Eurozone and German Zew survey missed the consensus estimates.
EUR/GBP Technical Levels
The immediate resistance is seen at 0.7264, above which the pair could target 0.7320. On the flip side, a break below 0.72 could push the pair lower to 0.7165.