23 Jul 2013
EUR/GBP positioned for 0.8600
FXstreet.com (London) - EUR/GBP has attempted the upside and is setting up to breach 0.8600, currently sat at 0.8590/95.
EUR/GBP will benefit from recent data for the EZ in the form of Consumer Confidence at -17.4 beating expectations of -18.3 while the UK disappointed today with lower than expected for June Mortgage Approvals. That number came in at just 37.3K vrs 38.5K expected, although slightly better than a previous 36.1K.
EUR/GBP ranges
The EUr/GBP range broadly speaking could be extended as far as the three-month uptrend from 0.8510 as a key supporting area to 0.8790/0.8814 for the upside. 20d ma 0.8590 50d ma 0.8546 200d ma 0.8398 RSI 45.62 Support 0.8464, 0.8512 0.8559 0.8575 Spot 0.8590. Resistances 0.8616 0.8635 0.8646 0.8681 until 0.8700 psychological level.
EUR/GBP will benefit from recent data for the EZ in the form of Consumer Confidence at -17.4 beating expectations of -18.3 while the UK disappointed today with lower than expected for June Mortgage Approvals. That number came in at just 37.3K vrs 38.5K expected, although slightly better than a previous 36.1K.
EUR/GBP ranges
The EUr/GBP range broadly speaking could be extended as far as the three-month uptrend from 0.8510 as a key supporting area to 0.8790/0.8814 for the upside. 20d ma 0.8590 50d ma 0.8546 200d ma 0.8398 RSI 45.62 Support 0.8464, 0.8512 0.8559 0.8575 Spot 0.8590. Resistances 0.8616 0.8635 0.8646 0.8681 until 0.8700 psychological level.