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7 Oct 2013
EUR/GBP testing key support
FXstreet.com (London) - EUR/GBP is a quiet contender at the start of the week with little on the calendar and left behind by focus elsewhere.
EUR/GBP has been constructing a bullish sideways channel above the next supporting line below at 0.8420. Research team at RBS commented, “The risks for EUR/GBP are skewed to a higher EUR/GBP rate, in our view”. Then, the BoE are up this week while markets are not expecting anything new from the MPC given the unanimous stance of the past few meetings. Eyes are instead fixed towards the next quarterly Inflation Report in November.
EUR/GBP Levels
The 20 DMA us 0.8406, the 50 DMA is 0.8509 and the 200 DMA is 0.8515. RSI (14) reads 41.82. Supports are ascending from 0.8333, 0.8368 and 0.8382. Spot is currently 0.8435. Resistances are from 0.8459, 0.8488, 0.8505 and 0.8520.
EUR/GBP has been constructing a bullish sideways channel above the next supporting line below at 0.8420. Research team at RBS commented, “The risks for EUR/GBP are skewed to a higher EUR/GBP rate, in our view”. Then, the BoE are up this week while markets are not expecting anything new from the MPC given the unanimous stance of the past few meetings. Eyes are instead fixed towards the next quarterly Inflation Report in November.
EUR/GBP Levels
The 20 DMA us 0.8406, the 50 DMA is 0.8509 and the 200 DMA is 0.8515. RSI (14) reads 41.82. Supports are ascending from 0.8333, 0.8368 and 0.8382. Spot is currently 0.8435. Resistances are from 0.8459, 0.8488, 0.8505 and 0.8520.