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27 Sep 2013
EUR/GBP is claiming back 0.8400 territory
FXstreet.com (London) - EUR/GBP has climbed back into the 0.8400 handle after dropping to 0.8361. The pair is still in a tight range while markets are in wait and see mode with the Central Banks courses of action.
BoE Governor Carney suggested that there was “no case” for more QE in the UK, pushing the GBP modestly higher but there was little follow through interest. Research teams at TD Securities explained, "Safe havens are better supported on weak stocks and EZ worries (Greece, Italy) but the EUR remains well supported, just off recent highs". Data wise, Harmonised Index of Consumer Prices 1.6% in line with expectations, as was Consumer Price Index (MoM) Sep at 0%. Consumer Price Index (YoY) Sep came in at 1.4% vs 1.5%.
EUR/GBP Levels
The 20 DMA is 0.8428, the 50 DMA is 0.8535 and the 200 DMA is 0.8508. RSI (14) reads 50.05. Supports are ascending from 0.8326, 0.8347, 0.8370 and 0.8394. Spot is currently 0.8409, while resistances are 0.8449, 0.8475, 0.8488 and 0.8505.
BoE Governor Carney suggested that there was “no case” for more QE in the UK, pushing the GBP modestly higher but there was little follow through interest. Research teams at TD Securities explained, "Safe havens are better supported on weak stocks and EZ worries (Greece, Italy) but the EUR remains well supported, just off recent highs". Data wise, Harmonised Index of Consumer Prices 1.6% in line with expectations, as was Consumer Price Index (MoM) Sep at 0%. Consumer Price Index (YoY) Sep came in at 1.4% vs 1.5%.
EUR/GBP Levels
The 20 DMA is 0.8428, the 50 DMA is 0.8535 and the 200 DMA is 0.8508. RSI (14) reads 50.05. Supports are ascending from 0.8326, 0.8347, 0.8370 and 0.8394. Spot is currently 0.8409, while resistances are 0.8449, 0.8475, 0.8488 and 0.8505.