10 Apr 2014
EUR/GBP approaches 0.8300
FXStreet (Córdoba) - The EUR/GBP extended gains to fresh highs during the New York session as the euro remains strong despite disappointing Eurozone data released earlier.
The EUR/GBP managed to break decisively above the 0.8265/70 area where the 200-hour SMA acted as dynamic resistance, and climbed to a 3-day high of 0.8278 in recent dealings. In the macroeconomic domain, the Bank of England decided to leave its interest rate and bond-buying program unchanged today, as widely expected, having no effect on the cross.
EUR/GBP levels to watch
At time of writing, the EUR/GBP is trading around 0.8275, recording a 0.31% daily gain, with immediate resistances at 0.8284 (Apr 7 high) and 0.8300 (psychological level/100-day SMA). On the flip side, supports could be found at 0.8240 (Apr 10 low) and 0.8230 (Apr 9 low) ahead of 0.8200 (psychological level).
The EUR/GBP managed to break decisively above the 0.8265/70 area where the 200-hour SMA acted as dynamic resistance, and climbed to a 3-day high of 0.8278 in recent dealings. In the macroeconomic domain, the Bank of England decided to leave its interest rate and bond-buying program unchanged today, as widely expected, having no effect on the cross.
EUR/GBP levels to watch
At time of writing, the EUR/GBP is trading around 0.8275, recording a 0.31% daily gain, with immediate resistances at 0.8284 (Apr 7 high) and 0.8300 (psychological level/100-day SMA). On the flip side, supports could be found at 0.8240 (Apr 10 low) and 0.8230 (Apr 9 low) ahead of 0.8200 (psychological level).