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18 Jun 2013
EUR/GBP back in range
FXstreet.com (London) - EUR/GBP has ticked up sealing the gap formed on Fridays close / Mondays open.
While the market has been waiting for UK CPI due at 8.30 GMT, we have been listening to ECB president Draghi speaking. While the EUR/USD dropped initially, the market has since digested his comments. EUR/USD has moved higher again while cable has shed some significant pips overnight and through the European session also. EUR/GBP has been benefiting from this activity, up 30 pips since the open. We now await the ZEW for Eurozone and Germany, with expectations to be a moderate uptick in activity.
EUR/GBP back on track
Spot had been unable to break the top-side Bollinger band in recent weeks, allowing it to touch lower just beneath. With the recent bounce back in the channel, closing the gap widening and the bandwidth again, the pair is back in the green while ma’s are offering buy signals on the hourly chart. The pair has a key support at 0.8470 while targeting May highs at 0.8600.
While the market has been waiting for UK CPI due at 8.30 GMT, we have been listening to ECB president Draghi speaking. While the EUR/USD dropped initially, the market has since digested his comments. EUR/USD has moved higher again while cable has shed some significant pips overnight and through the European session also. EUR/GBP has been benefiting from this activity, up 30 pips since the open. We now await the ZEW for Eurozone and Germany, with expectations to be a moderate uptick in activity.
EUR/GBP back on track
Spot had been unable to break the top-side Bollinger band in recent weeks, allowing it to touch lower just beneath. With the recent bounce back in the channel, closing the gap widening and the bandwidth again, the pair is back in the green while ma’s are offering buy signals on the hourly chart. The pair has a key support at 0.8470 while targeting May highs at 0.8600.