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14 May 2015
EUR/GBP inches higher
FXStreet (Mumbai) - The European currency ran into bids taking the EUR/GBP pair higher to 0.7242 levels ahead of the empty European economic data docket.
Sell off in German yields supports EUR
The EUR could gain an upper hand amid broad based dollar weakness on the back of a sell-off in the German Bunds. The resulting rise in the German yields helped the EUR strengthen. The 10-year Bund yield advanced to 0.758%, before slightly edging back to 0.733%. Meanwhile, the British Pound remains under pressure due to a slightly less hawkish than expected Bank of England Inflation report released in the previous session.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7255, above which gains could be extended to 0.7292 (hourly 200-MA). On the flip side, a break below 0.7225 could drive the pair lower to 0.7186 (hourly 50-MA).
Sell off in German yields supports EUR
The EUR could gain an upper hand amid broad based dollar weakness on the back of a sell-off in the German Bunds. The resulting rise in the German yields helped the EUR strengthen. The 10-year Bund yield advanced to 0.758%, before slightly edging back to 0.733%. Meanwhile, the British Pound remains under pressure due to a slightly less hawkish than expected Bank of England Inflation report released in the previous session.
EUR/GBP Technical Levels
The immediate resistance is located at 0.7255, above which gains could be extended to 0.7292 (hourly 200-MA). On the flip side, a break below 0.7225 could drive the pair lower to 0.7186 (hourly 50-MA).