Forex: EUR/GBP finds resistance
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - EURGBP rose overnight after finding support yesterday evening at 0.7910 and printing a double bottom of 0.7905.
Yesterday's Fed Beige Book gave the impression that the US economy is slowly continuing to recover whilst Asian Equities finished lower following Japanese Retail Sales came in weaker than expected. EURGBP printed a high of 0.7929 where it has met short term resistance. The analysts at Forex Ticket see price ranging in early trading today between 0.7930 - 0.7920 but see daily support at 0.79/0.7882/0.7859 and resistance at 0.7941/0.7964/0.7982. Price is currently finding support just above their daily Pivot Point at 0.7923.
During the European session, key events are; German Unemployment Rate and Change numbers at 07:55 GMT followed by UK Monthly Mortgage Approvals at 08:30 GMT, EU Consumer Confidence at 09:00 GMT and EU Business Climate data at 09:50 GMT.
Equity futures are indicating a lower open and commodities looks broadly under pressure this morning.
Yesterday's Fed Beige Book gave the impression that the US economy is slowly continuing to recover whilst Asian Equities finished lower following Japanese Retail Sales came in weaker than expected. EURGBP printed a high of 0.7929 where it has met short term resistance. The analysts at Forex Ticket see price ranging in early trading today between 0.7930 - 0.7920 but see daily support at 0.79/0.7882/0.7859 and resistance at 0.7941/0.7964/0.7982. Price is currently finding support just above their daily Pivot Point at 0.7923.
During the European session, key events are; German Unemployment Rate and Change numbers at 07:55 GMT followed by UK Monthly Mortgage Approvals at 08:30 GMT, EU Consumer Confidence at 09:00 GMT and EU Business Climate data at 09:50 GMT.
Equity futures are indicating a lower open and commodities looks broadly under pressure this morning.
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