Forex: EUR/GBP holding above 0.8560 support
Forex pairs in this Article »
EUR/GBP
FXstreet.com (Barcelona) - The EURGBP remains resistant to a move above 0.8590, but is well supported at 0.8560, which has leaving the cross ranging between these two levels since the start of the trading day. The latest attempt lower resulted in a bounce from 0.8559 to 0.8575, current price.
The preliminary release of German January CPI was already factored in, after printing a drop from 2.1% to 1.7% (YoY), with a monthly contraction of -0.5%. HICP data also came lower than expected, at -0.7% (MoM) and 1.9% (YoY).
The UK released its Nationwide Housing Prices earlier, coming higher than expected on the month of January (+0.5% vs 0.2% consensus), and improving to flat on the YoY basis (from -0.1% to 0.0%).
Mataf.net analysts point to resistances at 0.8600, 0.8630 and 0.8660. On the downside, supports might act at 0.8555, 0.8525 and 0.8500.
The preliminary release of German January CPI was already factored in, after printing a drop from 2.1% to 1.7% (YoY), with a monthly contraction of -0.5%. HICP data also came lower than expected, at -0.7% (MoM) and 1.9% (YoY).
The UK released its Nationwide Housing Prices earlier, coming higher than expected on the month of January (+0.5% vs 0.2% consensus), and improving to flat on the YoY basis (from -0.1% to 0.0%).
Mataf.net analysts point to resistances at 0.8600, 0.8630 and 0.8660. On the downside, supports might act at 0.8555, 0.8525 and 0.8500.
Free Annual Reports
