Fxwirepro: Eur/gbp Above 0.73 Handle, Hits Fresh Session Highs at 0.7324

  • EUR ran into fresh bids in the early European session, buoyed on weakness in the European stocks
  • EUR/GBP retakes the 0.73 handle, currently trades by fresh session highs at 0.7324
  • The second official UK GDP estimate due ahead is projected to show the economy grew at a rate of 0.7% between the first and second quarters
  • Downside in the pair remains cushioned as the EUR/USD pair defends mild gains, correcting part of yesterday’s losses with the German CPI figures eagerly awaited
  • Immediate resistance for the pair is seen at 0.7335 (Aug 27 High) levels and above which it could extend gains 0.7367 (Aug 26 High) levels
  • To the downside immediate support might be located at 0.7274 (Aug 27 Low) below that at 0.7256 (Aug 26 Low)

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