5 Dec 2013
EUR/GBP capped by 10-day SMA
FXstreet.com (Córdoba) - The EUR/GBP advanced somewhat Thursday and printed a 6-day high during the European session ahead of the ECB and the BoE policy decisions.
EUR/GBP consolidates near highs ahead of bank's decisions
The EUR/GBP managed to regain the 0.8300 mark and climbed to a high of 0.8320 where the 10-day SMA capped the rise. At time of writing, the pair is trading at the 0.8315 area, recording a 0.2% gain since opening, and the EUR/GBP could enjoy a phase of consolidation ahead of central banks statements. The Bank of England will be the first to announce its decision at 12:00GMT followed by the ECB at 12:45GMT, with no surprises expected from neither of the banks.
EUR/GBP levels to watch
If the EUR/GBP breaks above 0.8320, it could rally toward the 0.8344/51 zone (Nov 29 & 28 highs) and maybe then to 0.8389 (Nov 26 high). On the downside, supports are now seen at 0.8290 (daily low) and 0.8272 (Dec 4 low).
EUR/GBP consolidates near highs ahead of bank's decisions
The EUR/GBP managed to regain the 0.8300 mark and climbed to a high of 0.8320 where the 10-day SMA capped the rise. At time of writing, the pair is trading at the 0.8315 area, recording a 0.2% gain since opening, and the EUR/GBP could enjoy a phase of consolidation ahead of central banks statements. The Bank of England will be the first to announce its decision at 12:00GMT followed by the ECB at 12:45GMT, with no surprises expected from neither of the banks.
EUR/GBP levels to watch
If the EUR/GBP breaks above 0.8320, it could rally toward the 0.8344/51 zone (Nov 29 & 28 highs) and maybe then to 0.8389 (Nov 26 high). On the downside, supports are now seen at 0.8290 (daily low) and 0.8272 (Dec 4 low).