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24 Dec 2014
EUR/GBP finds support at 5-DMA
FXStreet (Mumbai) - The EUR/GBP pair weakened today, although losses were capped around the 5-DMA located at 0.7840 levels.
The pair currently trades largely unchanged at 0.7844 levels, after hitting a low of 0.7839 earlier today. Moreover, both, the EUR/USD and the GBP/USD pair have gained 0.20% today, leaving the EUR/GBP cross largely unchanged. The rebound witnessed in the EUR and GBP is largely technical driven since no major economic data were released in Europe.
EUR/GBP Technical Levels
The pair has an immediate resistance at 0.7860, above which gains could be extended to 0.7870-0.7873 levels. Meanwhile, multiple support is seen in the range of 0.7840-0.7836, below which losses could be extended to 0.7820 levels.
The pair currently trades largely unchanged at 0.7844 levels, after hitting a low of 0.7839 earlier today. Moreover, both, the EUR/USD and the GBP/USD pair have gained 0.20% today, leaving the EUR/GBP cross largely unchanged. The rebound witnessed in the EUR and GBP is largely technical driven since no major economic data were released in Europe.
EUR/GBP Technical Levels
The pair has an immediate resistance at 0.7860, above which gains could be extended to 0.7870-0.7873 levels. Meanwhile, multiple support is seen in the range of 0.7840-0.7836, below which losses could be extended to 0.7820 levels.