26 Sep 2013
EUR/GBP holding into the 0.8400 handle
FXstreet.com (London) - EUR/GBP has picked up away from the lows of 0.8394 and scored a high of 0.8425.
EUR/GBP fell through the figure again but was supported on a slightly disappointing GDP number from the UK of 1.3% vs 1.5%. Then, we have seen that Eurozone money supply growth was in line with expectations, but details of lending data were not that great. Still, it was a small sign of improvement and adds to the reasons why we are not likely to see a new LTRO in the near future. The EUR/USD has come under pressure of late and teams at TD Securities explained, “The EUR has been under mild pressure since the M3 release, but comments from the Fed’s Lacker (hawkish, non-voter) have likely been the stronger force behind EUR/USD selling. For the North American trading day, the central-bank-speaker theme of the week will continue, with two ECB speakers and three Fed speakers. From the ECB we are likely to hear the dovish stance reiterated, while the message from Fed members should remain more mixed. Overall that may not provide much of a reason for EUR/USD to move outside of the last week’s range”.
EUR/GBP Levels
The 20 DMA is 0.8434, the 50 DMA is 0.8539 and the 200 DMA is 0.8507. RSI (14) reads 52.77. Supports are ascending from 0.8326, 0.8353, 0.8370 and 0.8398. Spot is currently 0.8422. Resistances are -0.8449, 0.8475, 0 .8488 and 0.8505
EUR/GBP fell through the figure again but was supported on a slightly disappointing GDP number from the UK of 1.3% vs 1.5%. Then, we have seen that Eurozone money supply growth was in line with expectations, but details of lending data were not that great. Still, it was a small sign of improvement and adds to the reasons why we are not likely to see a new LTRO in the near future. The EUR/USD has come under pressure of late and teams at TD Securities explained, “The EUR has been under mild pressure since the M3 release, but comments from the Fed’s Lacker (hawkish, non-voter) have likely been the stronger force behind EUR/USD selling. For the North American trading day, the central-bank-speaker theme of the week will continue, with two ECB speakers and three Fed speakers. From the ECB we are likely to hear the dovish stance reiterated, while the message from Fed members should remain more mixed. Overall that may not provide much of a reason for EUR/USD to move outside of the last week’s range”.
EUR/GBP Levels
The 20 DMA is 0.8434, the 50 DMA is 0.8539 and the 200 DMA is 0.8507. RSI (14) reads 52.77. Supports are ascending from 0.8326, 0.8353, 0.8370 and 0.8398. Spot is currently 0.8422. Resistances are -0.8449, 0.8475, 0 .8488 and 0.8505