26 Jul 2013
EUR/GBP finding bids
FXstreet.com (London) - EUR/GBP is finding some bids in the US opening hours and regaining the 0.8620 territories.
EUR/GBP had moved below 0.8620 after spending the first half of the London session oscillating in a tight range between 0.8620 support and top end of 0.8630’s. The pair is side-lined after a where the pair gained areas from 0.8580 support to 0.8646. Today is much more about the dollar, but attention will revert back to the MPC and ECB next week.
EUR/GBP levels
The EUR/GBP 20d ma is at 0.8606, 50d ma 0.8555 and 200d ma 0.8405, with RSI (9) at 56.55. Supports are 0.8550, 0.8559, 0.8575 and 0.8589. Spot is 0.8623 at this moment of writing with resistance at 0.8646 0.8681 and 0.8712. EUR/GBP at 0.8715 is the 2008-2013-resistance line. The pair would look to 0.8793/0.8814 as the next level there after. Below 0.8575 gives the bears an opportunity for some deeper continuations towards the 0.8518/0.8470 area and 3-month uptrend and 2012-2013 uptrend.
EUR/GBP had moved below 0.8620 after spending the first half of the London session oscillating in a tight range between 0.8620 support and top end of 0.8630’s. The pair is side-lined after a where the pair gained areas from 0.8580 support to 0.8646. Today is much more about the dollar, but attention will revert back to the MPC and ECB next week.
EUR/GBP levels
The EUR/GBP 20d ma is at 0.8606, 50d ma 0.8555 and 200d ma 0.8405, with RSI (9) at 56.55. Supports are 0.8550, 0.8559, 0.8575 and 0.8589. Spot is 0.8623 at this moment of writing with resistance at 0.8646 0.8681 and 0.8712. EUR/GBP at 0.8715 is the 2008-2013-resistance line. The pair would look to 0.8793/0.8814 as the next level there after. Below 0.8575 gives the bears an opportunity for some deeper continuations towards the 0.8518/0.8470 area and 3-month uptrend and 2012-2013 uptrend.