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6 Feb 2015
EUR/GBP unperturbed by bearish UK data
FXStreet (Mumbai) - EUR/GBP remained little change after UK’s trade balance data showed that the country’s trade deficit widened more than market expectations.
Stays around 0.7480 levels
The EUR/GBP pair trades lower by -0.11% at 0.7480 levels, recovering from day’s low previously recorded at 0.7468 levels. EUR/GBP was unmoved after the UK's deficit on trade in goods expanded far wider than expectations in December to hit the biggest gap in more than five months due to exports falling and increasing imports of oil volumes, which reached its highest level since July 2008.
Meanwhile, traders now await fresh cues from the upcoming crucial US NFP data for further moves in the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7488 and above which it could extend gains to at 0.7500 levels. To the downside immediate support might be located at 0.7439 and below that at 0.7402 levels.
Stays around 0.7480 levels
The EUR/GBP pair trades lower by -0.11% at 0.7480 levels, recovering from day’s low previously recorded at 0.7468 levels. EUR/GBP was unmoved after the UK's deficit on trade in goods expanded far wider than expectations in December to hit the biggest gap in more than five months due to exports falling and increasing imports of oil volumes, which reached its highest level since July 2008.
Meanwhile, traders now await fresh cues from the upcoming crucial US NFP data for further moves in the cross.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7488 and above which it could extend gains to at 0.7500 levels. To the downside immediate support might be located at 0.7439 and below that at 0.7402 levels.