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13 Jun 2013
EUR/GBP testing the 0.8500 barrier
FXstreet.com (New York) - The EUR/GBP foreign exchange has surrendered all of its overnight gains after trading in the heights of 0.8544 (session high) earlier today.
EUR/GBP eases to opening levels
At the time of writing, the EUR/GBP pair is operating at the 0.8500 barrier, down a marginal -0.01% during European trading Thursday. The technical pair will encounter the next corrective levels of resistance at 0.8541, onto 0.8561, and finally 0.8597. Conversely, a movement lower will eventually test supports at 0.8485, followed by 0.8449, and 0.8429, notes the Mataf.net analyst team.
EUR/GBP rally remains capped by resistance
According to Axel Rudolph, a Senior Analyst at Commerzbank, “The EUR/GBP remains on the defensive, though rallies will find minor resistance at 0.8550, Tuesday’s high, ahead of the 0.8563 resistance line and the 0.8597 May high. We should see this continue to hold the topside for a slide back to the 0.8422 mid-May low.”
EUR/GBP eases to opening levels
At the time of writing, the EUR/GBP pair is operating at the 0.8500 barrier, down a marginal -0.01% during European trading Thursday. The technical pair will encounter the next corrective levels of resistance at 0.8541, onto 0.8561, and finally 0.8597. Conversely, a movement lower will eventually test supports at 0.8485, followed by 0.8449, and 0.8429, notes the Mataf.net analyst team.
EUR/GBP rally remains capped by resistance
According to Axel Rudolph, a Senior Analyst at Commerzbank, “The EUR/GBP remains on the defensive, though rallies will find minor resistance at 0.8550, Tuesday’s high, ahead of the 0.8563 resistance line and the 0.8597 May high. We should see this continue to hold the topside for a slide back to the 0.8422 mid-May low.”