Back
17 Sep 2013
EUR/GBP sideways and capped
FXstreet.com (London) - EUR/GBP has reached a high of 0.8394 and has remained in a sideways trend for todays session in London and NA.
Sterling is taking advantage of the dollar weakness surround the news on the Hawk, Larry Summers’, withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may be the person for the job has lead to the dollar dropping significantly towards significant levels in dollar crosses. Markets are expecting a longer term in current accommodative policies. Meanwhile, EZ CPI data has come in line with expectations while we await UK CPI and BoE minutes out a little later on this week.
EUR/GBP levels
The 20 DMA is .8498, the 50 DMA is .8575 and the 200 DMA is .8495. RSI (14) reads 51.77. Supports are ascending from .8286 .8300, .8326 and .8355. Spot is currently .8387 while resistances are .8393, .8426, .8439 and .8465
Sterling is taking advantage of the dollar weakness surround the news on the Hawk, Larry Summers’, withdrawal from being considered as the next Fed Chairman and the possibility that the Dove, Janet Yellen, may be the person for the job has lead to the dollar dropping significantly towards significant levels in dollar crosses. Markets are expecting a longer term in current accommodative policies. Meanwhile, EZ CPI data has come in line with expectations while we await UK CPI and BoE minutes out a little later on this week.
EUR/GBP levels
The 20 DMA is .8498, the 50 DMA is .8575 and the 200 DMA is .8495. RSI (14) reads 51.77. Supports are ascending from .8286 .8300, .8326 and .8355. Spot is currently .8387 while resistances are .8393, .8426, .8439 and .8465