12 May 2014
EUR/GBP hits 16-month low
FXStreet (Córdoba) - The EUR/GBP remains under bearish pressure and recently broke below 0.8156, which was its lowest level since January 2013, accelerating losses to fresh 16-month lows.
The EUR/GBP bottomed out at 0.8142 so far, and continues to trade near recent lows with the pound among the best performers during Monday’s European session ahead of Wednesday's BoE Quarterly Inflation Report. To the downside, the August 2010 low of 0.8138 is under threat, followed by the 100-month SMA at 0.8073.
To the upside, immediate resistances on bounces are seen at 0.8196/0.8200 (10-day SMA/psychological level), 0.8225 (May 6 high) and 0.8247 (May 8 high).
The EUR/GBP bottomed out at 0.8142 so far, and continues to trade near recent lows with the pound among the best performers during Monday’s European session ahead of Wednesday's BoE Quarterly Inflation Report. To the downside, the August 2010 low of 0.8138 is under threat, followed by the 100-month SMA at 0.8073.
To the upside, immediate resistances on bounces are seen at 0.8196/0.8200 (10-day SMA/psychological level), 0.8225 (May 6 high) and 0.8247 (May 8 high).