Back
2 Dec 2014
EUR/GBP trades below 100-DMA
FXStreet (Mumbai) - The single currency weakened today against the British Pound, pushing the EUR/GBP pair below the 100-DMA located at 0.7918 levels.
The EUR/GBP pair now trades 0.19% lower at 0.7912, after having failed to rise above the 5-DMA located at 0.7928 levels. Moreover, the single currency weakened as the market expects the European Central Bank to announce its own version of bond purchase program this Thursday. Meanwhile, the Pound may rise further if the November’s UK construction PMI due for release today comes-in higher than expected print of 61.00.
EUR/GBP Technical Levels
The pair has an immediate support at 0.7906, under which losses could be extended to 0.7890 (50-DMA). Meanwhile, immediate resistance is seen at 0.7918 (200-DMA), and 0.7928 (5-DMA).
The EUR/GBP pair now trades 0.19% lower at 0.7912, after having failed to rise above the 5-DMA located at 0.7928 levels. Moreover, the single currency weakened as the market expects the European Central Bank to announce its own version of bond purchase program this Thursday. Meanwhile, the Pound may rise further if the November’s UK construction PMI due for release today comes-in higher than expected print of 61.00.
EUR/GBP Technical Levels
The pair has an immediate support at 0.7906, under which losses could be extended to 0.7890 (50-DMA). Meanwhile, immediate resistance is seen at 0.7918 (200-DMA), and 0.7928 (5-DMA).