9 May 2016
EUR/GBP struggles to gather pace, near 0.7900
EUR/GBP is posting meager gains at the end of the Asian trading hours on Monday, navigating a narrow range around the 0.7900 handle.
EUR/GBP looks to Sentix index
The European cross is attempting a consolidative pattern around 0.7900 against the backdrop of thin trade conditions and lack of a clear direction from both the Sterling and the single currency.
Not much happening in the data space today, with only the confidence gauge by the Sentix index due in the euroa area and home prices tracked by Halifax expected across the Channel.
EUR/GBP key levels
The cross is now up 0.08% at 0.7907 facing the next hurdle at 0.7947 (high May 4) ahead of 0.7995 (high Apr.18) and then 0.8119 (2016 high Apr.7). On the flip side, a breach of 0.7871 (20-day sma) would expose 0.7731 (low Apr.26) and finally 0.7485 (200-day sma).
EUR/GBP looks to Sentix index
The European cross is attempting a consolidative pattern around 0.7900 against the backdrop of thin trade conditions and lack of a clear direction from both the Sterling and the single currency.
Not much happening in the data space today, with only the confidence gauge by the Sentix index due in the euroa area and home prices tracked by Halifax expected across the Channel.
EUR/GBP key levels
The cross is now up 0.08% at 0.7907 facing the next hurdle at 0.7947 (high May 4) ahead of 0.7995 (high Apr.18) and then 0.8119 (2016 high Apr.7). On the flip side, a breach of 0.7871 (20-day sma) would expose 0.7731 (low Apr.26) and finally 0.7485 (200-day sma).