EUR/GBP around 0.7880 on German CPI

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The single currency has eased some pips after the German data, with EUR/GBP hovering over the 0.7880 region.

    EUR/GBP bounces off 0.7850

    The European cross paid little attention to the flash German CPI figures for the current month, showing consumer prices coming in flat vs. forecasts for 0.2% gain. The broader HICP measure has also disappointed markets, with prices up 0.4% YoY vs. 0.6% expected.

    In the meantime, the cross has left session highs above the 0.7900 handle, although sellers could not push further south of the 0.7850 area so far.

    EUR/GBP key levels

    The European cross is now retreating 0.16% at 0.7882 and a breach of 0.7758 (20-day sma) would aim for 0.7715 (2-month uptrend) and finally 0.7523 (low Feb.3). On the flip side, the next up barrier aligns at 0.7977 (high Dec.1 2014) followed by 0.8007 (high Dec.16 2014) and then 0.8041 (high Nov.27 2014).
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