3 Sep 2013
EUR/GBP consolidates near 3-month lows
FXstreet.com (Córdoba) - The EUR/GBP extended losses into a fifth consecutive day on Tuesday, as the GBP strengthened in the wake of a solid UK construction PMI dragging the cross to a fresh 3-month low.
EUR/GBP recovery stalls at 0.8475
However, the EUR/GBP managed to trim losses after bottoming out at 0.8445 during the European session, but the recovery was capped by the 0.8475 area, confining the pair to a phase of consolidation.
EUR/GBP technical levels
At time of writing, EUR/GBP is trading at the 0.8460 zone, 0.3% below its opening price, with immediate supports at 0.8445 (daily low) and 0.8400 (psychological level/May 6 low). On the other hand, resistances are seen at 0.8480 (200-day SMA) and 0.8500(psychological level).
EUR/GBP recovery stalls at 0.8475
However, the EUR/GBP managed to trim losses after bottoming out at 0.8445 during the European session, but the recovery was capped by the 0.8475 area, confining the pair to a phase of consolidation.
EUR/GBP technical levels
At time of writing, EUR/GBP is trading at the 0.8460 zone, 0.3% below its opening price, with immediate supports at 0.8445 (daily low) and 0.8400 (psychological level/May 6 low). On the other hand, resistances are seen at 0.8480 (200-day SMA) and 0.8500(psychological level).