29 Oct 2013
EUR/GBP eases from 2-month high
FXstreet.com (Córdoba) - The EUR/GBP rose to hit a fresh 2-month high during the Asian session helped by pound weakness more than by euro strength as GBP/USD breaks below 1.6100.
The EUR/GBP peaked at 0.8570 earlier on the day although it failed to sustain gains and has been slowly retracing gains during the European trade. At time of writing, the cross is trading at the 0.8550 zone, still 0.1% above its opening price but the pair could extend gains propelled by month-end buying interest out of Europe.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate resistances at 0.8570 (daily high) 0.8592 (Aug 29 high) and 0.8600 (psychological level), while supports are seen at 0.8520 (Oct 28 low), 0.8528 (100-hour SMA) and 0.8499 (200-hour SMA).
The EUR/GBP peaked at 0.8570 earlier on the day although it failed to sustain gains and has been slowly retracing gains during the European trade. At time of writing, the cross is trading at the 0.8550 zone, still 0.1% above its opening price but the pair could extend gains propelled by month-end buying interest out of Europe.
EUR/GBP technical levels
In terms of technical levels, the EUR/GBP could find immediate resistances at 0.8570 (daily high) 0.8592 (Aug 29 high) and 0.8600 (psychological level), while supports are seen at 0.8520 (Oct 28 low), 0.8528 (100-hour SMA) and 0.8499 (200-hour SMA).