22 Aug 2013
EUR/GBP hitting 0.8579 high
FXstreet.com (London) - EUR/GBP has risen to 0.8577, through the 200 DMA and continuing to rise against sterling on positive EZ data.
The USD has been losing its steam into the NA day, and the EZ Markit PMI composite and Services for August came in at 51.7 and 51 respectively while German Markit Services PMI and Manufacturing PMI came in 52.4 and 52 respectively. The data was better than expected and has given the euro a boost. In the absence of UK data, EUR/USD will be the driver for today in the cross.
EUR/GBP eyes 50 dma
EUR/GBP is headed back towards the 0.8580 resistance zone where it would be meeting the July low and 50 DMA where up ahead lies the May peak and psychological 0.8600 handle. The 20 DMA is .8615, the 50 DMA is .8590 and the 200 DMA is.8460. RSI (14) reads 62.86 while supports are ascending from .8441, .8464, .8499, .8505. Spot is currently .8572 while resistances are .8580, .8609, .8623 and .8679.
The USD has been losing its steam into the NA day, and the EZ Markit PMI composite and Services for August came in at 51.7 and 51 respectively while German Markit Services PMI and Manufacturing PMI came in 52.4 and 52 respectively. The data was better than expected and has given the euro a boost. In the absence of UK data, EUR/USD will be the driver for today in the cross.
EUR/GBP eyes 50 dma
EUR/GBP is headed back towards the 0.8580 resistance zone where it would be meeting the July low and 50 DMA where up ahead lies the May peak and psychological 0.8600 handle. The 20 DMA is .8615, the 50 DMA is .8590 and the 200 DMA is.8460. RSI (14) reads 62.86 while supports are ascending from .8441, .8464, .8499, .8505. Spot is currently .8572 while resistances are .8580, .8609, .8623 and .8679.