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9 Feb 2015
EUR/GBP hits fresh session highs
FXStreet (Mumbai) - EUR/GBP rallied mainly driven by the bouncing EUR/USD, while the cable remained flat. Investors are confused over the situation in Greece, as Greece government sticks to its plan to seek a bridge-loan.
0.7500 levels eyed
The EUR/GBP pair trades higher by 0.40% at fresh session highs of 0.7452 levels. EUR/GBP edged higher in a delayed reaction to the upbeat German trade data which revealed that country's current account, generated a surplus of EUR19.1 billion in December, up from EUR17.9 billion registered in the previous month. Moreover, with escalating tensions on the Greece situations traders remain wary and prefer to cover their short positions and refrain from creating fresh ones.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7499 and above which it could extend gains to at 0.7513 levels. To the downside immediate support might be located at 0.7402 and below that at 0.7380 (2008) levels.
0.7500 levels eyed
The EUR/GBP pair trades higher by 0.40% at fresh session highs of 0.7452 levels. EUR/GBP edged higher in a delayed reaction to the upbeat German trade data which revealed that country's current account, generated a surplus of EUR19.1 billion in December, up from EUR17.9 billion registered in the previous month. Moreover, with escalating tensions on the Greece situations traders remain wary and prefer to cover their short positions and refrain from creating fresh ones.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7499 and above which it could extend gains to at 0.7513 levels. To the downside immediate support might be located at 0.7402 and below that at 0.7380 (2008) levels.