Back
10 Feb 2015
EUR/GBP falls further after mixed UK data
FXStreet (Mumbai) - EUR/GBP extended losses, falling further to session lows after UK macro data showed that total industrial production declined below expectation, while the manufacturing output rose above estimates.
Falls from 0.7430 levels
The EUR/GBP pair trades lower by -0.30% at fresh session lows of 0.7416 levels, having clocked intraday high at 0.7446 EUR/GBP sank after disappointing UK industrial sector data failed to cushion the losses in the cross. On yearly basis, industrial production rose in line with expectations by 0.5%. Manufacturing output rose above expectations rising by 0.1% against expectations of it dropping by 0.1%.
Additionally, the fall in EUR/GBP exacerbated due to the tumbling EUR/USD below 1.1300 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7460 and above which it could extend gains to at 0.7500 levels. To the downside immediate support might be located at 0.7402 and below that at 0.7380 (2008) levels.
Falls from 0.7430 levels
The EUR/GBP pair trades lower by -0.30% at fresh session lows of 0.7416 levels, having clocked intraday high at 0.7446 EUR/GBP sank after disappointing UK industrial sector data failed to cushion the losses in the cross. On yearly basis, industrial production rose in line with expectations by 0.5%. Manufacturing output rose above expectations rising by 0.1% against expectations of it dropping by 0.1%.
Additionally, the fall in EUR/GBP exacerbated due to the tumbling EUR/USD below 1.1300 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7460 and above which it could extend gains to at 0.7500 levels. To the downside immediate support might be located at 0.7402 and below that at 0.7380 (2008) levels.