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24 Feb 2014
EUR/GBP fails to sustain gains
FXStreet (Córdoba) - The EUR/GBP settled in a tight range during the American afternoon as the spike that followed better-than-expected German Ifo data was short-lived.
The EUR/GBP jumped to a 12-day high of 0.8285 during the European session underpinned by German Ifo and Eurozone CPI, but failed to sustain gains and pulled back to the 0.8240 zone most recently as markets continue to search for direction. At time of writing, the EUR/GBP is trading at the 0.8250 area, a few pips below its opening price.
EUR/GBP technical levels
Immediate resistances are now seen at 0.8285 (Feb 24 high), 0.8300 (Feb 12 high/psychological level) and 0.8335 (Feb 11 high). On the flip side, supports are seen at 0.8242 (Feb 4 low), 0.8214 (Feb 20 low), 0.8189 (Feb 17 low) and 0.8167 (Jan 22 low).
The EUR/GBP jumped to a 12-day high of 0.8285 during the European session underpinned by German Ifo and Eurozone CPI, but failed to sustain gains and pulled back to the 0.8240 zone most recently as markets continue to search for direction. At time of writing, the EUR/GBP is trading at the 0.8250 area, a few pips below its opening price.
EUR/GBP technical levels
Immediate resistances are now seen at 0.8285 (Feb 24 high), 0.8300 (Feb 12 high/psychological level) and 0.8335 (Feb 11 high). On the flip side, supports are seen at 0.8242 (Feb 4 low), 0.8214 (Feb 20 low), 0.8189 (Feb 17 low) and 0.8167 (Jan 22 low).