EUR/GBP muted around 0.7130

FXStreet (Mumbai) – The European currency stood resilient against the British pound in the European session, with EUR/GBP hovering above 0.7130 levels, as the euro remains better bid across the board despite the latest negative developments surrounding Greece.

EUR/GBP supported above 0.7100

Currently, the EUR/GBP pair trades flat at 0.7132, swinging between gains and losses so far. The cross in EUR/GBP remains supported despite bearish sentiment surrounding markets on Greek woes. While downbeat German data also failed to negatively impact the shared currency. The GfK German Consumer Climate ticked down to 10.1 in July after the 10.2 in June.

EUR/GBP gave back gains and trades near lows as the pound recovered losses versus the greenback as traders now focus on upcoming US data while Greece remains in spotlight.

EUR/GBP Technical Levels

To the upside, the next resistance is located at 0.7148 (Today’s High) levels and above which it could extend gains 0.7180 (June 23 High) levels. To the downside immediate support might be located at 0.7100 below that at 0.7078 (June 23 Low) levels.

The European currency stood resilient against the British pound in the European session, with EUR/GBP hovering above 0.7130 levels, as the euro remains better bid across the board despite the latest negative developments surrounding Greece.

(Market News Provided by FXstreet)