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Forex pairs in this Article » EUR/GBP (Córdoba) - The EUR/GBP from daily lows toward fresh daily highs after data showed UK inflation slowed in November.

The UK annual rate of inflation, measured by the CPI, fell to 2.1% in November from 2.2% in October, the lowest rate in 4 years. The pound weakened after the data as softer prices put no pressure on the BoE to hike rates. The EUR/GBP rose to a fresh daily high of 0.8451 but slowed a few pips ahead yesterday's peak (0.8454) and the 100-day SMA (0.8456).

EUR/GBP levels to watch

At time of writing, the EUR/GBP is trading at the 0.8440 area, virtually unchanged on the day. If the pair manages to break above the 0.8450/56 area, next resistances could be found at 0.8475 (Nov 4 high) and 0.8494 (200-day SMA) ahead of 0.8500 (psychological level). On the downside, supports are seen at 0.8430 (daily low) and 0.8413 (Dec 16 low).
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