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19 Aug 2013
EUR/GBP showing weakness below 0.8550
FXstreet.com (Barcelona) - The EUR/GBP foreign exchange cross rate is last trading unchanged from previous weekly close Friday at 0.8527, off initial session highs at 0.8539 printed on Euro strength.
EUR/GBP targets an 0.85 break
With a completely blank economic agenda for the next London session ahead, “I like the sell-rally strategy in EUR/GBP now that we are below the previous pivot at .8600,” said FXWW founder Sean Lee. According to IFRMarkets analyst Andrew Spencer, the cross EUR/GBP “targets an 0.85 break.” Spencer points out that trend is “backed by string of positive UK data.”
EUR/GBP key technical levels
Immediate support to the downside for EUR/GBP lies at Wednesday's/Friday's lows 0.8527, followed by last Thursday's weekly lows at 0.8504, and July 03 lows at 0.8482. To the upside, closest resistance shows at recent session and weekly highs at 0.8540, followed by Friday's highs at 0.8554, and August 07/12 lows at 0.8578.
EUR/GBP targets an 0.85 break
With a completely blank economic agenda for the next London session ahead, “I like the sell-rally strategy in EUR/GBP now that we are below the previous pivot at .8600,” said FXWW founder Sean Lee. According to IFRMarkets analyst Andrew Spencer, the cross EUR/GBP “targets an 0.85 break.” Spencer points out that trend is “backed by string of positive UK data.”
EUR/GBP key technical levels
Immediate support to the downside for EUR/GBP lies at Wednesday's/Friday's lows 0.8527, followed by last Thursday's weekly lows at 0.8504, and July 03 lows at 0.8482. To the upside, closest resistance shows at recent session and weekly highs at 0.8540, followed by Friday's highs at 0.8554, and August 07/12 lows at 0.8578.