9 Oct 2013
EUR/GBP bid making fresh highs
FXstreet.com (London) - EUR/GBP has made two attempts to the upside, reaching a high of 0.8488 on the session.
Research teams at TD Securities noted that data releases from the calendar and said, “UK data this morning were all around disappointing, with industrial and manufacturing production as well as trade data for August all notably missing expectations”….the releases knocked GBP/USD lower. The BoE tomorrow should be a non-event with no change to the policy rate or the asset purchase program…the one clear risk is that this is the month they decide to start releasing their monthly statements leaving some potential for GBP shock”. And with regards to the EZ, they said, “An upside surprise to German industrial production data was the key fundamental development in the Eurozone overnight, but did little to offset the pressure on EUR/USD from earlier in the session”.
EUR/GBP Levels
The 20 DMA is 0.8406, the 50 DMA is 0.8499 and the 200 DMA is 0.8518. RSI (14) 63.84. Supports are ascending from 0.8365, 0.8376, 0.8404, 0.8424, 0.8439, 0.8463, 0.8475, 0.8488 and 0.8505.
Research teams at TD Securities noted that data releases from the calendar and said, “UK data this morning were all around disappointing, with industrial and manufacturing production as well as trade data for August all notably missing expectations”….the releases knocked GBP/USD lower. The BoE tomorrow should be a non-event with no change to the policy rate or the asset purchase program…the one clear risk is that this is the month they decide to start releasing their monthly statements leaving some potential for GBP shock”. And with regards to the EZ, they said, “An upside surprise to German industrial production data was the key fundamental development in the Eurozone overnight, but did little to offset the pressure on EUR/USD from earlier in the session”.
EUR/GBP Levels
The 20 DMA is 0.8406, the 50 DMA is 0.8499 and the 200 DMA is 0.8518. RSI (14) 63.84. Supports are ascending from 0.8365, 0.8376, 0.8404, 0.8424, 0.8439, 0.8463, 0.8475, 0.8488 and 0.8505.