Forex: EUR/GBP trading negatively at 0.8044
Forex pairs in this Article »
EUR/GBP
The EURGBP has been held in tight consolidation Wednesday, trading between a tightened range of 21 pips (0.8033 intraday minimum, 0.8054 intraday maximum). In recent minutes however, the pair has recovered 8 pips to settle at 0.8044.
The cross is residing in negative territory, underperforming both its 50 and 100-hourly SMA (down -24 pips and -13 pips respectively). Furthermore, at the time of writing the pair is incurring a loss of -0.08% on the day.
Earlier today in Germany, the Wholesale Price Index (MoM) grew +1.3% in the month of September, beating consensus expectations of only +0.5%. In addition, the Wholesale Price Index (YoY) yielded a figure of +4.2% in September, exceeding its estimates of +3.3%. No additional data is scheduled for release in the United Kingdom later today.
Briefing the technicals, the Mataf.net analysts posit the additional propensity of supports at 0.8020, the 0.7997, and finally 0.7957. On the ascension, a break above 0.8083 will initiate added resistive means at 0.8123 and 0.8146.
The cross is residing in negative territory, underperforming both its 50 and 100-hourly SMA (down -24 pips and -13 pips respectively). Furthermore, at the time of writing the pair is incurring a loss of -0.08% on the day.
Earlier today in Germany, the Wholesale Price Index (MoM) grew +1.3% in the month of September, beating consensus expectations of only +0.5%. In addition, the Wholesale Price Index (YoY) yielded a figure of +4.2% in September, exceeding its estimates of +3.3%. No additional data is scheduled for release in the United Kingdom later today.
Briefing the technicals, the Mataf.net analysts posit the additional propensity of supports at 0.8020, the 0.7997, and finally 0.7957. On the ascension, a break above 0.8083 will initiate added resistive means at 0.8123 and 0.8146.
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