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EUR/GBP little changed after German data

FXStreet (Mumbai) - The EUR/GBP pair turned a blind eye towards a slightly dismal German unemployment figure to trade around 0.7410 levels.

Focus on UK GDP and EU CPI figure

The pair found support at its hourly 50-MA then located at 0.7403 levels. The German unemployment change in September printed at 2K, compared to the expected drop of 5K. The unemployment rate remained unchanged at 6.4%.

The investors now await the final UK Q2 GDP report, which could leave the growth rate remained unchanged at 2.6% YoY and 0.7% QoQ. Meanwhile, the Eurozone CPI due later today could show the cost of living dipped in September.

EUR/GBP Technical Levels

The immediate support is seen at 0.7405 (hourly 50-MA), under which the pair could drop to 0.7380 (hourly 100-MA). On the other side, resistance is seen at 0.7436 (Tuesday’s high) and 0.7483 (May 7 high).

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