4 Nov 2013
EUR/GBP hovers near its Friday levels ahead of EZ/UK data
FXstreet.com (Athens) – The EUR/GBP is trading under pressure the last couple of hours ahead of Euro land PMIs as well as on the UK PMI.
Downtrend pattern to prevail?
The EUR/GBP, while lower, has been caught in a sidelines trend shift near its Friday close area (0.8463). As long as the EUR/GBP is trading well under its both 21-EMA (0.8485) and 10-EMA (0.8496), as well as its 200-daily SMA (0.8534) it seems that the downtrend pattern has probabilities to continue to prevail across the board.
What’s more, the downwards trending RSI might put an additional pressure on the cross, while solid supports could be well found on the daily lows as of 0.8428 (October 16) and 0.8424 (October 4).
Downtrend pattern to prevail?
The EUR/GBP, while lower, has been caught in a sidelines trend shift near its Friday close area (0.8463). As long as the EUR/GBP is trading well under its both 21-EMA (0.8485) and 10-EMA (0.8496), as well as its 200-daily SMA (0.8534) it seems that the downtrend pattern has probabilities to continue to prevail across the board.
What’s more, the downwards trending RSI might put an additional pressure on the cross, while solid supports could be well found on the daily lows as of 0.8428 (October 16) and 0.8424 (October 4).