16 Jul 2013
EUR/GBP capped
FXstreet.com (London) - EUR/GBP is testing yesterdays high at 0.8665 and has so far reversed on attempt.
EUR/GBP is sideways in a quiet start to the week, but we will now start to see key data releases and things will pick up. First up, we have CPI for UK, EZ and the US. Then we will have Carney and Bernanke under the spot-lights tomorrow.
Alex Rudolph, Senior Technical Analyst at Commerzbank said EUR/GBP is attempting to maintain a foothold over the 0.8636 April high, but remains quite lacklustre. “While the market continues to hold over the 55 day ma at 0.8526 and the range lows at 0.8570, an upside bias is preserved. Initial support is the top of the previous range at 0.8597”. He said the close above the 0.8636 April high should act as a break point to the 0.8793/.8814 highs seen earlier in the year.
EUR/GBP is sideways in a quiet start to the week, but we will now start to see key data releases and things will pick up. First up, we have CPI for UK, EZ and the US. Then we will have Carney and Bernanke under the spot-lights tomorrow.
Alex Rudolph, Senior Technical Analyst at Commerzbank said EUR/GBP is attempting to maintain a foothold over the 0.8636 April high, but remains quite lacklustre. “While the market continues to hold over the 55 day ma at 0.8526 and the range lows at 0.8570, an upside bias is preserved. Initial support is the top of the previous range at 0.8597”. He said the close above the 0.8636 April high should act as a break point to the 0.8793/.8814 highs seen earlier in the year.