28 Apr 2015
EUR/GBP recovers from the session low
FXStreet (Mumbai) - The EUR/GBP pair has recovered slightly from the session low of 0.7130 amid lack of fresh fundamental triggers in the Eurozone and UK.
Awaits UK GDP
The investors await the UK GDP data, which could show the year-on-year GDP is seen lower at 2.6%, compared to the previous reading of 3.0%. The GBP is under pressure ahead of the data, since the slowdown in the UK retail sales in March is expected to drag down growth number.
In the meantime, the EUR is being supported as the markets cheer reshuffling of the Greece’s debt negotiations.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7155 (5-DMA), above which gains could be extended to 0.7175 (10-DMA). On the flip side, a break below 0.7130 could push the pair down to 0.7100.
Awaits UK GDP
The investors await the UK GDP data, which could show the year-on-year GDP is seen lower at 2.6%, compared to the previous reading of 3.0%. The GBP is under pressure ahead of the data, since the slowdown in the UK retail sales in March is expected to drag down growth number.
In the meantime, the EUR is being supported as the markets cheer reshuffling of the Greece’s debt negotiations.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7155 (5-DMA), above which gains could be extended to 0.7175 (10-DMA). On the flip side, a break below 0.7130 could push the pair down to 0.7100.