OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/GBP stuck near 0.7860

FXStreet (Mumbai) - The EUR/GBP pair made another attempt to test 0.7860 levels today and failed after the Eurozone Sentix Investor Confidence remained near 18-month low in November.

The EUR/GBP pair currently trades at 0.7851, compared to the previous session’s close of 0.7846. Moreover, the pair has made repeated attempts to rise above 0.7860 levels for the last entire week. However, the single currency is unable to extend the gains despite rising occasionally above 0.7860 levels. Moreover, the US Dollar has been strengthening equally against the EUR and the GBP, thereby restricting the EUR/GBP cross to a narrow range.

Meanwhile, the EUR/GBP pair may inch higher if the ECB) bond buying results disappoints market expectations. The bond buying during the first week of the program was just EUR 1.7 billion, which as per analysts is not sufficient to push the ECB balance sheet towards early-2012 levels.

EUR/GBP Technical levels

The pair has a strong resistance at 0.7866, above which it can rise to 0.7885 and 0.7910 levels. On the flip side, a breach of the immediate support at 0.7838 shall push the pair down to 0.7810 levels.

NZD/USD regains 0.7800

NZD/USD advanced and managed to regain the 0.78 mark Monday, as the greenback weakened across the board following Friday’s employment report.
Read more Previous

GBP/USD clings to 1.5900

The sterling remains hovering over the 1.5900 handle on Monday, with GBP/USD now rejected from the 1.5910/15 band...
Read more Next
Start livechat