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13 Aug 2013
EUR/GBP dipped below 50 DMA
FXstreet.com (Barcelona) - EUR/GBP is remaining sub 0.8600 printing a low of 0.8579.
EUR/GBP has been a quiet play leading into the NA shift. We have seen German CPI in line with expectations at 0.5% mom and 1.9% yoy. We have also seen EZ ZEW came in at 44.0 vs 37.4 expected, so an improvement there. Up next, German GDP tomorrow, but there is a sense that this is more of a Sterling play. Carney’s comments last week are in debate as to their effectiveness on UK rates, so eye's are on the BoE minutes also tomorrow.
EUR/GBP sitting at 50 dma
EUR/GBP is resting on the 50 dma again at 0.8586 and a break here would open up the July 10 low at 0.8576, signalling that the top side could be done for now en route for the four month support line being targeted at 0.8530 region. The 20 dma is 0.8637, 50 dma is 0.8586, and the 200 dma is 0.8444. RSI (9) reads. 42.13. Supports are ascending from 0.8512, 0.8550, 0.8572. Spot is currently at the time of writing 0.8584 while resistances are 0.8609, 0.8623, 0.8660, 0.8679 and 0.8730
EUR/GBP has been a quiet play leading into the NA shift. We have seen German CPI in line with expectations at 0.5% mom and 1.9% yoy. We have also seen EZ ZEW came in at 44.0 vs 37.4 expected, so an improvement there. Up next, German GDP tomorrow, but there is a sense that this is more of a Sterling play. Carney’s comments last week are in debate as to their effectiveness on UK rates, so eye's are on the BoE minutes also tomorrow.
EUR/GBP sitting at 50 dma
EUR/GBP is resting on the 50 dma again at 0.8586 and a break here would open up the July 10 low at 0.8576, signalling that the top side could be done for now en route for the four month support line being targeted at 0.8530 region. The 20 dma is 0.8637, 50 dma is 0.8586, and the 200 dma is 0.8444. RSI (9) reads. 42.13. Supports are ascending from 0.8512, 0.8550, 0.8572. Spot is currently at the time of writing 0.8584 while resistances are 0.8609, 0.8623, 0.8660, 0.8679 and 0.8730