Back
7 Jan 2014
EUR/GBP testing bids below the 0.83 handle
FXstreet.com (London) - EUR/GBP has dipped below the 0.83 handle again for the 2nd attempt to the downside.
EUR/GBP is at the mercy of its major counter parts with moves to the upside in Sterling vs the dollar punching through 1.64. Meanwhile, and following comments from BoE Governor Carney in the weekend press, Jane Foley Senior Currency Strategist at Rabobank said, “It seems feasible that the Bank could change this forward guidance as part of the February Inflation Report and that the ground could be prepared at the January policy meeting”. She added, “The minutes will be published on January 22. The likelihood that the Bank is about to strengthen its dovish position should undermine the impact of better economic data on sterling in the coming weeks”.
EUR/GBP Levels
The 20 DMA is 0.8364, the 50 DMA is 0.8379 and the 200 DMA is 0.8483. RSI (14) reads 43.12. Supports are 0.8205, 0.8225, 0.8253 and 0.8270. Spot is currently 0.8300. Resistances are 0.8304, 0.8320, 0.8330, 0.8350 and 0.8372.
EUR/GBP is at the mercy of its major counter parts with moves to the upside in Sterling vs the dollar punching through 1.64. Meanwhile, and following comments from BoE Governor Carney in the weekend press, Jane Foley Senior Currency Strategist at Rabobank said, “It seems feasible that the Bank could change this forward guidance as part of the February Inflation Report and that the ground could be prepared at the January policy meeting”. She added, “The minutes will be published on January 22. The likelihood that the Bank is about to strengthen its dovish position should undermine the impact of better economic data on sterling in the coming weeks”.
EUR/GBP Levels
The 20 DMA is 0.8364, the 50 DMA is 0.8379 and the 200 DMA is 0.8483. RSI (14) reads 43.12. Supports are 0.8205, 0.8225, 0.8253 and 0.8270. Spot is currently 0.8300. Resistances are 0.8304, 0.8320, 0.8330, 0.8350 and 0.8372.