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27 Nov 2014
EUR/GBP steady above 0.7900
FXStreet (Córdoba) - The euro is unchanged against the pound on Thursday as price action remains limited in the currency market. EUR/GBP currently trades at 0.7915, at the same level it closed yesterday.
During the European session the pair bottomed at 0.7904 but then bounced to the upside and peaked at 0.7923. Today’s trading range so far has been of less than 20 pips, the smallest since late August.
Better-than-expected labor data from Germany and an improvement in consumer confidence and business sentiment in the Eurozone did not pushed the euro to the upside. At 13:00 GMT the preliminary report of the Consumer Price Index for november will be release in Germany.
EUR/GBP with support around 0.7900
Yesterday the pair dropped to 0.7896, 2-week low, but quickly rose back above 0.7900. The area around 0.7900 has become an important short term support. A consolidation below could trigger another decline. The next relevant support is located around 0.7860/65 (Nov 5, 6 and 10 highs).
During the European session the pair bottomed at 0.7904 but then bounced to the upside and peaked at 0.7923. Today’s trading range so far has been of less than 20 pips, the smallest since late August.
Better-than-expected labor data from Germany and an improvement in consumer confidence and business sentiment in the Eurozone did not pushed the euro to the upside. At 13:00 GMT the preliminary report of the Consumer Price Index for november will be release in Germany.
EUR/GBP with support around 0.7900
Yesterday the pair dropped to 0.7896, 2-week low, but quickly rose back above 0.7900. The area around 0.7900 has become an important short term support. A consolidation below could trigger another decline. The next relevant support is located around 0.7860/65 (Nov 5, 6 and 10 highs).