23 May 2014
EUR/GBP prints fresh 17-month low
FXStreet (Córdoba) - The EUR/GBP stretched to a fresh 17-month low during the European session weighed by worse-than-expected German IFO survey figures.
The EUR/GBP made a marginal new low of 0.8080, last seen December 2012, before pausing the decline just a few pips ahead of the 100-month SMA (0.8072), which could be a tough support to break. At time of writing, the EUR/GBP is trading at 0.8085, recording a 0.1% loss on the day and on track to post its fourth weekly fall in a row.
EUR/GBP technical levels
In terms of technical levels, if the EUR/GBP breaks below 0.8080/72 (May 23 low/100-month SMA), next supports are seen at 0.8033 (Dec 2012 low) and 0.8300 (psychological level). On the flip side, resistances might be found at 0.8110 (May 22 high), 0.8134 (10-day SMA) and 0.8157 (May 19 high).
The EUR/GBP made a marginal new low of 0.8080, last seen December 2012, before pausing the decline just a few pips ahead of the 100-month SMA (0.8072), which could be a tough support to break. At time of writing, the EUR/GBP is trading at 0.8085, recording a 0.1% loss on the day and on track to post its fourth weekly fall in a row.
EUR/GBP technical levels
In terms of technical levels, if the EUR/GBP breaks below 0.8080/72 (May 23 low/100-month SMA), next supports are seen at 0.8033 (Dec 2012 low) and 0.8300 (psychological level). On the flip side, resistances might be found at 0.8110 (May 22 high), 0.8134 (10-day SMA) and 0.8157 (May 19 high).