EUR/GBP bouncing off day's lows
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - The pair is now hovering over the area at 0.8060 as the sterling and the single currency are both trading in negative ground ahead of important PMI data in the euro zone and the UK.
Announcements at the EU Summit were well received by the markets, although their effects have faded away over the weekend, as investors hope for longer term measures to quell the actual crisis in the bloc.
EURGBP is retreating 0.11% at 0.80.67 with the next support at 0.8035 (hourly low Jun.29) followed by 0.7987 (Lower Bollinger) then 0.7985 (low Jun.26) and 0.7971 (low May 30).
On the upside, a breakout of 0.8100 (high Jun.20) would open the door to 0.8139 (Upper Bollinger) then 0.8163 (high Jun.11) and 0.8198 (high May 1).
Announcements at the EU Summit were well received by the markets, although their effects have faded away over the weekend, as investors hope for longer term measures to quell the actual crisis in the bloc.
EURGBP is retreating 0.11% at 0.80.67 with the next support at 0.8035 (hourly low Jun.29) followed by 0.7987 (Lower Bollinger) then 0.7985 (low Jun.26) and 0.7971 (low May 30).
On the upside, a breakout of 0.8100 (high Jun.20) would open the door to 0.8139 (Upper Bollinger) then 0.8163 (high Jun.11) and 0.8198 (high May 1).
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