16 Oct 2013
EUR/GBP back in positive territory?
FXstreet.com (London) - EUR/GBP was falling on the CPI release and breaking the 0.8460 support late in the day yesterday.
The supply in 0.8490-0.8510 regions remains and with the downside break not really extending, the range remains 0.8420-0.8500 while today's data had a marginal impact n the pair. Research teams at TD Securities explained that the UK labour market data on net was better than expected, though the all-important ILO unemployment rate for August came in unchanged and on consensus at 7.7%. Meanwhile EZ CPI came in line and attention will turn to ECB Draghi’s Speech.
EUR/GBP Levels
The 20 DMA is 0.8425, the 50 DMA is 0.8477 and the 200 DMA is 0.8527. RSI (14) reads 52.53. Supports are ascending from 0.8376, 0.8401, 0.8425 and 0.8458. Spot is currently 0.8462 while resistances are 0.8494, 0.8510, 0.8520 and 0.8553.
The supply in 0.8490-0.8510 regions remains and with the downside break not really extending, the range remains 0.8420-0.8500 while today's data had a marginal impact n the pair. Research teams at TD Securities explained that the UK labour market data on net was better than expected, though the all-important ILO unemployment rate for August came in unchanged and on consensus at 7.7%. Meanwhile EZ CPI came in line and attention will turn to ECB Draghi’s Speech.
EUR/GBP Levels
The 20 DMA is 0.8425, the 50 DMA is 0.8477 and the 200 DMA is 0.8527. RSI (14) reads 52.53. Supports are ascending from 0.8376, 0.8401, 0.8425 and 0.8458. Spot is currently 0.8462 while resistances are 0.8494, 0.8510, 0.8520 and 0.8553.