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23 Jan 2015
EUR/GBP on its way to new 7-yr Lows
FXStreet (Mumbai) - The Euro got hammered by sterling and is headed towards fresh seven year lows ahead of the European session as the euro remained undermined by the European Central Bank (ECB) and its easing program.
The EUR/GBP pair now trades at 0.7556 levels, down -0.18% on the day, having previously fallen to fresh day’s low at 0.7553, a whisker short of printing a new seven year low. The EUR/GBP remains pressured as forex markets digest the latest measures by the ECB and reassess the situation.
As of writing, EUR/USD trades lower by -0.27% at 1.1331 levels, while GBP/USD trades marginally lower by -0.09% at 1.4998 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7575 (Today’s High) and above which it could extend gains to at 0.7600 levels. To the downside immediate support might be located at 0.7550 and below that at 0.7530 levels.
The EUR/GBP pair now trades at 0.7556 levels, down -0.18% on the day, having previously fallen to fresh day’s low at 0.7553, a whisker short of printing a new seven year low. The EUR/GBP remains pressured as forex markets digest the latest measures by the ECB and reassess the situation.
As of writing, EUR/USD trades lower by -0.27% at 1.1331 levels, while GBP/USD trades marginally lower by -0.09% at 1.4998 levels.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.7575 (Today’s High) and above which it could extend gains to at 0.7600 levels. To the downside immediate support might be located at 0.7550 and below that at 0.7530 levels.