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13 Feb 2014
EUR/GBP resurrecting onto the 0.82 handle
FXStreet (Guatemala) - EUR/GBP has pulled back over 40 pips post the landslide that was Carney boosting the pound which took the pair from 0.83 territory and buried it into the ground over a big figure lower.
EUR/GBP “was already licking its wounds after the European Central Bank Executive board member Benoit Coeure told news agency Reuters in an interview that negative rates is something the ECB are considering very seriously, adding it is a very possible option”, explained Investec Bank dealers. “This is in stark contrast to the hawkish view forming on the UK economy. Today from the calendar from Europe we had the final reading of German CPI was unchanged from the preliminary estimate of 1.2% Y/Y. Overall some profit taking has emerged despite the dovish outlook for the EZ and the Italian Prime Minister Enrico Letta is ousted.
EUR/GBP Levels
The 20 DMA is 0.8261, the 50 DMA is 0.8313 and the 200 DMA is 0.8452. RSI (14) reads 50.59. Supports are ascending from 0.8134, 0.8145, 0.8161 and 0.8168. Spot is 0.8212 while resistances are 0.8269, 0.8286 and 0.8301.
EUR/GBP “was already licking its wounds after the European Central Bank Executive board member Benoit Coeure told news agency Reuters in an interview that negative rates is something the ECB are considering very seriously, adding it is a very possible option”, explained Investec Bank dealers. “This is in stark contrast to the hawkish view forming on the UK economy. Today from the calendar from Europe we had the final reading of German CPI was unchanged from the preliminary estimate of 1.2% Y/Y. Overall some profit taking has emerged despite the dovish outlook for the EZ and the Italian Prime Minister Enrico Letta is ousted.
EUR/GBP Levels
The 20 DMA is 0.8261, the 50 DMA is 0.8313 and the 200 DMA is 0.8452. RSI (14) reads 50.59. Supports are ascending from 0.8134, 0.8145, 0.8161 and 0.8168. Spot is 0.8212 while resistances are 0.8269, 0.8286 and 0.8301.