11 Dec 2013
EURGBP retaining 0.8420
FXstreet.com (London) - EUR/GBP has leaped higher and pushed through in the 0.84 handle while Sterling is unwinding across the board.
There is no data today from the UK and markets are taking profits exuberated by stops. However, the pound is likely to remain supported by the recent surge in 12-month inflation expectations from the BoE. Meanwhile, Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the euro continues to strengthen modestly following the lack of a clear signal from the ECB that further monetary easing will soon be forthcoming while liquidity conditions continue to tighten.
EUR/GBP Levels
The 20 DMA is 0.8350, the 50 DMA is 0.8417 and the 200 DMA is 0.8502. RSI (14) reads 54.06. supports are 0.8272, 0.8292, 0.8323, 0.8348, 0.8370 and 0.8395. Spot is 0.8420 with resistance at 0.8464 and 0.8477.
There is no data today from the UK and markets are taking profits exuberated by stops. However, the pound is likely to remain supported by the recent surge in 12-month inflation expectations from the BoE. Meanwhile, Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the euro continues to strengthen modestly following the lack of a clear signal from the ECB that further monetary easing will soon be forthcoming while liquidity conditions continue to tighten.
EUR/GBP Levels
The 20 DMA is 0.8350, the 50 DMA is 0.8417 and the 200 DMA is 0.8502. RSI (14) reads 54.06. supports are 0.8272, 0.8292, 0.8323, 0.8348, 0.8370 and 0.8395. Spot is 0.8420 with resistance at 0.8464 and 0.8477.