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5 Mar 2014
EUR/GBP slips after UK and EZ data
FXStreet (Córdoba) - The EUR/GBP dropped to daily lows following the last string of UK and Eurozone data a day before the BoE and ECB policy decisions.
The EUR/GBP saw a modest dip and touched a low of 0.8220 as the pound strengthened in the wake of above expectations UK services PMI. The Eurozone GDP rose 0.5% in Q4, meeting forecast and having little impact on the cross while better-than-expected retail sales failed to help the euro. At time of writing, the EUR/GBP is trading at the 0.8230 area, still 0.2% below its opening price.
EUR/GBP technical levels
In terms of technical levels, immediate supports are seen at 0.8220 (Mar 5 low), 0.8200 (psychological level) and 0.8189 (Feb 28 low). On the other hand, resistances could be found at 0.8245/6 (21-day SMA/daily high), 0.8260 (Mar 4 high) and 0.8285 (Feb 24 high).
The EUR/GBP saw a modest dip and touched a low of 0.8220 as the pound strengthened in the wake of above expectations UK services PMI. The Eurozone GDP rose 0.5% in Q4, meeting forecast and having little impact on the cross while better-than-expected retail sales failed to help the euro. At time of writing, the EUR/GBP is trading at the 0.8230 area, still 0.2% below its opening price.
EUR/GBP technical levels
In terms of technical levels, immediate supports are seen at 0.8220 (Mar 5 low), 0.8200 (psychological level) and 0.8189 (Feb 28 low). On the other hand, resistances could be found at 0.8245/6 (21-day SMA/daily high), 0.8260 (Mar 4 high) and 0.8285 (Feb 24 high).