21 Aug 2013
EUR/GBP is eyeing 0.8520
FXstreet.com (London) - EUR/GBP has fallen steeply from 0.8680 overnight to print below 0.8550 on the London handover.
EUR/GBP as accelerated the drop to reach a low of 0.8225 so far while Sterling is bid across the board, probing 1.5700 handle to reach a high of 1.5703 and currently has settled in 1.5690 area. UK Public sector net borrowing is looking better -£1.635B vs -£5.60B as the consensus in July, other than that there is very little on the calendar for today until this evening. The key focus today will clearly be the minutes from the July 30-31 FOMC as the market looks for signals in timing and scale of the Fed’s plans to taper its current QE policy.
EUR/GBP eye’s 200 DMA territory
EUR/GBP could be heading for a sell off towards the 200 DMA now that the pair has been capped at the August high .8769. The 20 DMA 0.8620, 50 DMA .8590, 200 DMA .8457. RSI (9) reads 42.87. Supports are ascending from .8464, .8497, .8505. Spot is currently .8538 while resistances are .8571, .8580, .8609, .8623 and .8679.
EUR/GBP as accelerated the drop to reach a low of 0.8225 so far while Sterling is bid across the board, probing 1.5700 handle to reach a high of 1.5703 and currently has settled in 1.5690 area. UK Public sector net borrowing is looking better -£1.635B vs -£5.60B as the consensus in July, other than that there is very little on the calendar for today until this evening. The key focus today will clearly be the minutes from the July 30-31 FOMC as the market looks for signals in timing and scale of the Fed’s plans to taper its current QE policy.
EUR/GBP eye’s 200 DMA territory
EUR/GBP could be heading for a sell off towards the 200 DMA now that the pair has been capped at the August high .8769. The 20 DMA 0.8620, 50 DMA .8590, 200 DMA .8457. RSI (9) reads 42.87. Supports are ascending from .8464, .8497, .8505. Spot is currently .8538 while resistances are .8571, .8580, .8609, .8623 and .8679.