15 Apr 2014
EUR/GBP found support at 0.8250
FXStreet (Edinburgh) - The EUR/GBP rapidly slipped from session highs beyond 0.8280 to fresh multi-day lows in the boundaries of 0.8250.
EUR/GBP weaker after UK data
The cross quickly dropped to the mid-0.8200 after UK consumer prices boosted the sterling. Inflation figures in the British economy matched expectations in March, rising at an annual pace of 1.6% although lower than February’s 1.7%. On the opposite side, the EUR remained around the 1.38000 handle after a mixed reading from German/EMU ZEW Survey. “Rallies this week towards 0.8335 area with dips being supported around 0.8280 on the way”, noted Paul Robson, Senior FX Strategist at RBS.
EUR/GBP levels to watch
As of writing the cross is down 0.10% at 0.8253 with the next support at 0.8242 (low Apr.10) ahead of 0.8232 (low Apr.9) and then 0.8214 (76.4% of 0.8157-0.8400). On the flip side, a breakout of 0.8301 (21-d MA) would expose 0.8314 (high Apr.3) and finally 0.8321 (high Mar.27).
EUR/GBP weaker after UK data
The cross quickly dropped to the mid-0.8200 after UK consumer prices boosted the sterling. Inflation figures in the British economy matched expectations in March, rising at an annual pace of 1.6% although lower than February’s 1.7%. On the opposite side, the EUR remained around the 1.38000 handle after a mixed reading from German/EMU ZEW Survey. “Rallies this week towards 0.8335 area with dips being supported around 0.8280 on the way”, noted Paul Robson, Senior FX Strategist at RBS.
EUR/GBP levels to watch
As of writing the cross is down 0.10% at 0.8253 with the next support at 0.8242 (low Apr.10) ahead of 0.8232 (low Apr.9) and then 0.8214 (76.4% of 0.8157-0.8400). On the flip side, a breakout of 0.8301 (21-d MA) would expose 0.8314 (high Apr.3) and finally 0.8321 (high Mar.27).