9 Jul 2013
EUR/GBP capped pre UK GDP Estimates
FXstreet.com (London) - EUR/GBP has been capped for the session, so far, at 0.8672 and before NIESR GDP Estimates.
The GDP Estimate released by the National Institute of Economic and Social Research comes at 2pm GMT and maybe one other catalyst for a move higher in the pair should the data disappoint again. Although the data is not necessarily a reading which the market always pays close attention as only being an estimate, it is nonetheless reliable and a reading the BoE would monitor in terms of policy assessments.
EUR/GBP has broken key resistance
Karen Jones, Chief Analyst at Commerzbank said “The 0.8636 April high should act as a break point to the 0.8793/0.8814 highs seen earlier in the year.” Dankse Banks technical analyses suggest the next resistances will be 0.8656, 0.8660 and 0.8703. Key support is sighted at 0.8536 before 0.8510. Karen Jones at Commerzbank said She said failure at 0.8470, although less favoured, would re-target to the 0.8422 mid-May low and the 2012-13 support line at 0.8420.
The GDP Estimate released by the National Institute of Economic and Social Research comes at 2pm GMT and maybe one other catalyst for a move higher in the pair should the data disappoint again. Although the data is not necessarily a reading which the market always pays close attention as only being an estimate, it is nonetheless reliable and a reading the BoE would monitor in terms of policy assessments.
EUR/GBP has broken key resistance
Karen Jones, Chief Analyst at Commerzbank said “The 0.8636 April high should act as a break point to the 0.8793/0.8814 highs seen earlier in the year.” Dankse Banks technical analyses suggest the next resistances will be 0.8656, 0.8660 and 0.8703. Key support is sighted at 0.8536 before 0.8510. Karen Jones at Commerzbank said She said failure at 0.8470, although less favoured, would re-target to the 0.8422 mid-May low and the 2012-13 support line at 0.8420.