26 Mar 2014
EUR/GBP upside threat well passed
FXStreet (Guatemala) - EUR/GBP has taken a tumble and is currently threatening 0.8320’s support after failures higher at key levels.
EUR/GBP has again tested and failed at its 38.2% retracement at 0.8392, explained Karen Jones, chief analyst at Commerzbank. The pair has now been closing below the 55 day ma and Fibonacci support at 0.8280/79 which has, according to her, alleviated the upside threat.
EUR/GBP Levels
The 20 DMA is 0.8314, the 50 DMA is 0.8277 and the 200 DMA is 0.8419. RSI (14) reads 23.99. Supports are ascending from 0.8286, 0.8296 and 0.8315. Spot is 0.8323 while resistances are 0.8355, 0.8400, 0.8467, 0.8505 and 0.8544.
EUR/GBP has again tested and failed at its 38.2% retracement at 0.8392, explained Karen Jones, chief analyst at Commerzbank. The pair has now been closing below the 55 day ma and Fibonacci support at 0.8280/79 which has, according to her, alleviated the upside threat.
EUR/GBP Levels
The 20 DMA is 0.8314, the 50 DMA is 0.8277 and the 200 DMA is 0.8419. RSI (14) reads 23.99. Supports are ascending from 0.8286, 0.8296 and 0.8315. Spot is 0.8323 while resistances are 0.8355, 0.8400, 0.8467, 0.8505 and 0.8544.