14 Oct 2013
EUR/GBP modestly lower Monday – consolidating the recent gains
FXstreet.com (Barcelona) - The EUR/GBP cross is seeing a minor pause in the recent upside action early on Monday. Investors are treating the euro as a risk currency and the pound as a bit of a safe haven in the very short-term.
EUR/GBP traders will get a little data off of which they can trade
EUR/GBP traders will be reacting to EuroZone Industrial Production numbers later in the session. Other than that, most of Monday’s trading will be driven by technicals and a continuation of recent trends (which have been bullish).
Technical outlook for EUR/GBP
Technicians say the EUR/GBP cross is on a track to test projected resistance at 0.8538. Short-term support comes into play at Friday’s low of 0.8460 and is backed up by the 10/8 low of 0.8423.
EUR/GBP traders will get a little data off of which they can trade
EUR/GBP traders will be reacting to EuroZone Industrial Production numbers later in the session. Other than that, most of Monday’s trading will be driven by technicals and a continuation of recent trends (which have been bullish).
Technical outlook for EUR/GBP
Technicians say the EUR/GBP cross is on a track to test projected resistance at 0.8538. Short-term support comes into play at Friday’s low of 0.8460 and is backed up by the 10/8 low of 0.8423.