21 Nov 2013
EUR/GBP mixed and in tight range
FXstreet.com (London) - EUR/GBP is attempting the downside again within a tight range on the 0.83 handle supported by 0.8320.
EUR/GBP is offered with the ECB member Asmussen indicating to the market that negative rates are indeed still a possibility. However, EUR/USD took back the 1.34 handle with conviction after ECB Chief Draghi pushed back against the notion of negative deposit rates that continues to support the cross. US data has supported the dollar overall on the session but despite that, Sterling has claimed territory above 1.6160 putting pressure on the cross.
EUR/GBP Levels
The 20 DMA is 0.8435, the 50 DMA is 0.8433 and the 200 DMA is 0.8524. RSI (14) reads 35.93. Supports are ascending from 0.8266, 0.8285, and 0.8300/20. Spot is 0.8324 while resistances are 0.8345, 0.8370, 0.8390, 0.8416 and 0.8464.
EUR/GBP is offered with the ECB member Asmussen indicating to the market that negative rates are indeed still a possibility. However, EUR/USD took back the 1.34 handle with conviction after ECB Chief Draghi pushed back against the notion of negative deposit rates that continues to support the cross. US data has supported the dollar overall on the session but despite that, Sterling has claimed territory above 1.6160 putting pressure on the cross.
EUR/GBP Levels
The 20 DMA is 0.8435, the 50 DMA is 0.8433 and the 200 DMA is 0.8524. RSI (14) reads 35.93. Supports are ascending from 0.8266, 0.8285, and 0.8300/20. Spot is 0.8324 while resistances are 0.8345, 0.8370, 0.8390, 0.8416 and 0.8464.