25 Sep 2013
EUR/GBP looking for a positive close
FXstreet.com (London) - EUR/GBP has given the market a confusing picture with a rally that failed to offer any conviction and the pair is looking for a close within the 0.8400 handle.
From the calendar, German Consumer confidence offered the pair support with a reading beating expectation, marginally, at 7.1 vs 7.0 expected. Tomorrow, UK data will take stage for the pair with GDP released. Sterling has had a good deal of positive news priced in above 1.6000 and markets will be looking for conviction above there again.
EUR/GBP Levels
The 20 DMA is .8443, the 50 DMA is .8543 and the 2300 DMA is .8506. RSI (14) reads 42.89. Supports are ascending from .8353, .8370 and .8399. Spot is currently .8413. Resistances are .8424, .8449, .8475, .8488 and .8505.
From the calendar, German Consumer confidence offered the pair support with a reading beating expectation, marginally, at 7.1 vs 7.0 expected. Tomorrow, UK data will take stage for the pair with GDP released. Sterling has had a good deal of positive news priced in above 1.6000 and markets will be looking for conviction above there again.
EUR/GBP Levels
The 20 DMA is .8443, the 50 DMA is .8543 and the 2300 DMA is .8506. RSI (14) reads 42.89. Supports are ascending from .8353, .8370 and .8399. Spot is currently .8413. Resistances are .8424, .8449, .8475, .8488 and .8505.