2 Sep 2013
EUR/GBP offered towards June low
FXstreet.com (NA) - EUR/GBP is offered in the opening house of NA having drifted away from the 0.8500 handle in European trading.
“EM currencies appear the most vulnerable as investors continue to react to higher real USD borrowing costs. We do not expect any change of policy from the ECB on Thursday. With Euroland politics around the periphery appearing in a holding pattern ahead of September's German elections, President Draghi will be choosing his words carefully. For choice, we expect EUR/GBP to continue its decline” – Paul Robson, strategist, RBS.
EUR/GBP eyes April lows
EUR/GBP has sold off towards the 0.8470 June. The target to the downside comes in with the 0.8399 April low and 0.8366, the 200 week MA. The 20 DMA is .8577, 50 DMA is .8597 and the 200 DMA is .8478. RSI (14) is 30 while supports are ascending from .8420, .8441, .8464. Spot is currently .8577. Resistances are .8486, .8501, .8560, .8572, .8594 and .8651.
“EM currencies appear the most vulnerable as investors continue to react to higher real USD borrowing costs. We do not expect any change of policy from the ECB on Thursday. With Euroland politics around the periphery appearing in a holding pattern ahead of September's German elections, President Draghi will be choosing his words carefully. For choice, we expect EUR/GBP to continue its decline” – Paul Robson, strategist, RBS.
EUR/GBP eyes April lows
EUR/GBP has sold off towards the 0.8470 June. The target to the downside comes in with the 0.8399 April low and 0.8366, the 200 week MA. The 20 DMA is .8577, 50 DMA is .8597 and the 200 DMA is .8478. RSI (14) is 30 while supports are ascending from .8420, .8441, .8464. Spot is currently .8577. Resistances are .8486, .8501, .8560, .8572, .8594 and .8651.