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14 Jan 2015
EUR/GBP little changed after ECJ Ruling
FXStreet (Mumbai) - The single currency traded steady against the British pound, recovering losses after the release of European Court of Justice (ECJ) Ruling on the legality of the European Central Bank’s (ECB) OMT Mechanism.
The EUR/GBP pair now trades unchanged at 0.7770 levels, recovering from fresh days’ low at 0.7740 levels posted earlier in the session. The EUR /GBP cross remained largely flat after the ECJ verdict which stated that the ECB’s OMT mechanism was ‘in principle’ in line with EU Treaty.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.78 and above which it could extend gains to at 0.7850 (Jan 5 High) levels. To the downside immediate support might be located at 0.7750 and below that at 0.7720 levels.
The EUR/GBP pair now trades unchanged at 0.7770 levels, recovering from fresh days’ low at 0.7740 levels posted earlier in the session. The EUR /GBP cross remained largely flat after the ECJ verdict which stated that the ECB’s OMT mechanism was ‘in principle’ in line with EU Treaty.
EUR/GBP Levels to consider
To the upside, the next resistance is located at 0.78 and above which it could extend gains to at 0.7850 (Jan 5 High) levels. To the downside immediate support might be located at 0.7750 and below that at 0.7720 levels.