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14 Apr 2015
EUR/GBP back at 0.72
FXStreet (Mumbai) - The EUR/GBP pair re-tested 0.72 handle after the data in Spain showed the month-on-month (MoM) inflation in March ticked higher.
Gains capped at 0.72
The pair is struggling to extend gains over and above 0.72 levels, even though the data in Spain showed the CPI MoM in March rebounded to 0.6%, from 0.2% in February. The pair could see a similar reaction post the release of Italian CPI.
However, the pair could witness rise in volatility post the release of the UK CPI data, which is expected to show the headline inflation and the core inflation remained unchanged in March.
EUR/GBP Technical Levels
The immediate resistance is seen at 0.7211, above which gains could be extended to 0.7268. On the flip side, a break below 0.7180 could drive the pair lower to 0.7152 levels.
Gains capped at 0.72
The pair is struggling to extend gains over and above 0.72 levels, even though the data in Spain showed the CPI MoM in March rebounded to 0.6%, from 0.2% in February. The pair could see a similar reaction post the release of Italian CPI.
However, the pair could witness rise in volatility post the release of the UK CPI data, which is expected to show the headline inflation and the core inflation remained unchanged in March.
EUR/GBP Technical Levels
The immediate resistance is seen at 0.7211, above which gains could be extended to 0.7268. On the flip side, a break below 0.7180 could drive the pair lower to 0.7152 levels.