29 Jul 2013
EUR/GBP continuing the rebound
FXstreet.com (London) - EURGBP, after a week confined to tight ranges starts this week on the bid at 0.8630.
While there is a thin calendar today, things will start to pick up for the pair with BoE and ECB later on in the week. EUR/GBP had been sidelined while the dollar was generally offered across the board last week. The main headline last week that kept the pair sidelined had been the WSJ Hilsenrath article which made for a softer tone for the dollar in both eurusd and gbpusd.
EUR/GBP continues to see a strong rebound
The pair is still within the ranges of the recent high and the 2008-2013 resistance line before next level, 0.8793/0.8814. Below 0.8575 gives the bears an opportunity for some deeper continuations towards the0.8518/0.8470 area and 3 month uptrend and 2012-2013 uptrend.
While there is a thin calendar today, things will start to pick up for the pair with BoE and ECB later on in the week. EUR/GBP had been sidelined while the dollar was generally offered across the board last week. The main headline last week that kept the pair sidelined had been the WSJ Hilsenrath article which made for a softer tone for the dollar in both eurusd and gbpusd.
EUR/GBP continues to see a strong rebound
The pair is still within the ranges of the recent high and the 2008-2013 resistance line before next level, 0.8793/0.8814. Below 0.8575 gives the bears an opportunity for some deeper continuations towards the0.8518/0.8470 area and 3 month uptrend and 2012-2013 uptrend.