10 Jun 2013
EUR/GBP upside capped at 0.8520
FXstreet.com (Barcelona) - The EUR/GBP exchange rate has been rising off its overnight lows (0.8486), having regained the key 0.8500 pivot/barrier during European trading.
In the EMU, Sentix Confidence (June) was reported at -11.6, failing to match estimates of -10.0, and compared with a figure of -15.6 in May.
According to the ICN.com Technical Analyst Team, “The EUR/GBP pair is still trading above the ascending trend line, where we expect positive trading on the intraday and medium-term – breaching the 0.8635 level will confirm extending the expected upside move. The initial targets reside at 0.8790, whereas achieving it requires stability above 0.8455 and 0.8345 levels.”
EUR/GBP holds 0.8500 level
Amidst the uptrend, the pair is now settling at 0.8515/16 in these moments, securing a gain of +0.15% after the earlier EMU data. Technically speaking, the Mataf.net analyst team points to resistance levels levels at 0.8525, ahead of 0.8548, and ultimately 0.8570. Alternatively, a thrust into negative territory will eventually drive the pair towards supports at 0.8480, then 0.8458, onto 0.8435.
In the EMU, Sentix Confidence (June) was reported at -11.6, failing to match estimates of -10.0, and compared with a figure of -15.6 in May.
According to the ICN.com Technical Analyst Team, “The EUR/GBP pair is still trading above the ascending trend line, where we expect positive trading on the intraday and medium-term – breaching the 0.8635 level will confirm extending the expected upside move. The initial targets reside at 0.8790, whereas achieving it requires stability above 0.8455 and 0.8345 levels.”
EUR/GBP holds 0.8500 level
Amidst the uptrend, the pair is now settling at 0.8515/16 in these moments, securing a gain of +0.15% after the earlier EMU data. Technically speaking, the Mataf.net analyst team points to resistance levels levels at 0.8525, ahead of 0.8548, and ultimately 0.8570. Alternatively, a thrust into negative territory will eventually drive the pair towards supports at 0.8480, then 0.8458, onto 0.8435.