2 Sep 2013
EUR/GBP steady below the handle
FXstreet.com (London) - EUR/GBP remains sidelined on a relatively quiet start to the week in the in the NA session.
EUR/GBP has been supported sub the 0.8500 handle in NA, having made an initial low of 0.8472 in London. In the UK, the manufacturing PMI was stronger than expected. For the EUR, it is not expected that there will be any change of policy from the ECB on Thursday. Then, away from the UK, Friday's payroll report presents the main event for the week effecting the GBP/USD and EUR/USD pairs and is widely expected to set the tone of markets for the next couple of months.
EUR/GBP sidelined
EUR/GBP has sold off towards the 0.8470 June. The target to the downside comes in with the 0.8399 April low and 0.8366, the 200 week MA. The 20 DMA is .8577, 50 DMA is .8597 and the 200 DMA is .8478. RSI (14) is 44.51 while supports are ascending from .8420, .8441, .8464. Spot is currently .8488. Resistances are, .8501, .8560, .8572, .8594 and .8651.
EUR/GBP has been supported sub the 0.8500 handle in NA, having made an initial low of 0.8472 in London. In the UK, the manufacturing PMI was stronger than expected. For the EUR, it is not expected that there will be any change of policy from the ECB on Thursday. Then, away from the UK, Friday's payroll report presents the main event for the week effecting the GBP/USD and EUR/USD pairs and is widely expected to set the tone of markets for the next couple of months.
EUR/GBP sidelined
EUR/GBP has sold off towards the 0.8470 June. The target to the downside comes in with the 0.8399 April low and 0.8366, the 200 week MA. The 20 DMA is .8577, 50 DMA is .8597 and the 200 DMA is .8478. RSI (14) is 44.51 while supports are ascending from .8420, .8441, .8464. Spot is currently .8488. Resistances are, .8501, .8560, .8572, .8594 and .8651.