30 Aug 2013
EUR/GBP still under pressure ahead of Euro zone data
FXstreet.com (Athens) - The EUR/GBP is moving sidelines on European’s trading session, ahead of major Euro zone news.
EUR/GBP under pressure on solid UK data and due to Nowotny’s discouraging comments.
The sterling continues to set up an uptrend momentum across the board. UK Mortgage Approvals in July came at 60.6K versus 58.8K expected and 58.2K prior. In addition to the constant encouraging UK data, ECB’s Nowotny said that “there's still uncertainty in Euro periphery”. German retail sales and Italian employment data, released better than expected, but traders might pay much attention to the upcoming Euro zone data at 9:00 GMT hours.
Technical outlook on EUR/GBP
At the time of writing the pair is trading at 0.8546,up 0.10%. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 0.8520, 0.8500, 0.8484 and resistance at 0.8600, 0.8622, 0.8698 respectively.
EUR/GBP under pressure on solid UK data and due to Nowotny’s discouraging comments.
The sterling continues to set up an uptrend momentum across the board. UK Mortgage Approvals in July came at 60.6K versus 58.8K expected and 58.2K prior. In addition to the constant encouraging UK data, ECB’s Nowotny said that “there's still uncertainty in Euro periphery”. German retail sales and Italian employment data, released better than expected, but traders might pay much attention to the upcoming Euro zone data at 9:00 GMT hours.
Technical outlook on EUR/GBP
At the time of writing the pair is trading at 0.8546,up 0.10%. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 0.8520, 0.8500, 0.8484 and resistance at 0.8600, 0.8622, 0.8698 respectively.