24 Sep 2013
EUR/GBP wiping out gains; still above 0.84
FXstreet.com (Chicago) - EUR/GBP navigates close to 0.8408 daily lows around the 0.8415 zone after erasing most of its earlier gains and turning back into the negatives with 0.33% weekly losses so far.
“Overwhelmingly positive” news?
In the UK, the FTSE100 closed up 0.21% similarly to the Euro-zone indexes with the DAX up 0.34% and the CAC40 up 0.56%. Market participants digested mixed manufacturing results for Germany. BoE’s Miles said the most recent news on the economy were “overwhelmingly positive” ahead of GDP data due this Thursday.
EUR/GBP Technical Levels
Technically speaking, the pair is offered at 0.8417 (38.2% Fibonacci pullback from September 18th reversal day) and oscillates between supports aligned at 0.84 (September 17th highs), 0.8380 (September 11th lows) followed by 0.8351 (September 18th lows) and the resistances set at 0.8447 (September 10th highs), 0.8476 (September 3rd highs) followed by 0.8519 (September 2nd highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.
“Overwhelmingly positive” news?
In the UK, the FTSE100 closed up 0.21% similarly to the Euro-zone indexes with the DAX up 0.34% and the CAC40 up 0.56%. Market participants digested mixed manufacturing results for Germany. BoE’s Miles said the most recent news on the economy were “overwhelmingly positive” ahead of GDP data due this Thursday.
EUR/GBP Technical Levels
Technically speaking, the pair is offered at 0.8417 (38.2% Fibonacci pullback from September 18th reversal day) and oscillates between supports aligned at 0.84 (September 17th highs), 0.8380 (September 11th lows) followed by 0.8351 (September 18th lows) and the resistances set at 0.8447 (September 10th highs), 0.8476 (September 3rd highs) followed by 0.8519 (September 2nd highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.