7 Aug 2015
EUR/GBP keeps range near 0.7045 on UK data
FXStreet (Mumbai) - The British pound keeps mild losses versus the shared currency in the European session, with EUR/GBP slightly higher near the mid-point of 0.70 handle, as the pound was hit by UK trade balance numbers which showed that trade deficit widened in June.
EUR/GBP little changed on UK data
Currently, the EUR/GBP pair trades 0.10% higher at 0.7047, receding from session highs reached at 0.7064 pre-data release. The EUR/GBP cross remains supported largely on broad GBP weakness as the British currency received fresh blow from the disappointing UK trade numbers.
The UK's trade balance widened to £1.6 billion in June up from a revised £0.9 billion in May as exports fell and imports increased. Meanwhile, the second quarter deficit was the lowest in four years.
On the other hand, EUR/USD trades flattish as traders await key US employment data for further momentum on the main currency pair.
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EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7070 (July 15 High) levels and above which it could extend gains 0.7100 levels. To the downside immediate support might be located at 0.7000 below that at 0.6945 (July 21 Low)
EUR/GBP little changed on UK data
Currently, the EUR/GBP pair trades 0.10% higher at 0.7047, receding from session highs reached at 0.7064 pre-data release. The EUR/GBP cross remains supported largely on broad GBP weakness as the British currency received fresh blow from the disappointing UK trade numbers.
The UK's trade balance widened to £1.6 billion in June up from a revised £0.9 billion in May as exports fell and imports increased. Meanwhile, the second quarter deficit was the lowest in four years.
On the other hand, EUR/USD trades flattish as traders await key US employment data for further momentum on the main currency pair.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7070 (July 15 High) levels and above which it could extend gains 0.7100 levels. To the downside immediate support might be located at 0.7000 below that at 0.6945 (July 21 Low)