EUR/GBP at session highs, EUR relatively resilient

By FXStreet FXStreet (Mumbai) – The EUR/GBP pair strengthened to a session high of 0.7353 in the US session as the common currency remained relatively resilient after the mixed batch of US data.

GBP hurt by weak inflation

The drop in the UK core inflation reported earlier today weighed over Sterling. Meanwhile, the common currency remained buoyed after the data showed a record high trade surplus earlier today. Consequently, the EUR/GBP extended the rally to a session high of 0.7353.

Earlier today, the pair bounced back from its 200-DMA located at 0.7320 levels.With no major data due for release till NY closing, the pair is likely to take cues from the action on the Wall Street.

EUR/GBP Technical Levels

The immediate resistance is located at 0.7358 (previous day’s high), above which the spot could target 0.74 levels. On the other side, support is located at 0.7320 (200-DMA) and 0.7294 (Sep 11 low).
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Source:: FX Street