4 Jul 2013
EUR/GBP sideways above 0.8500
FXstreet.com (London) - EUR/GBP moved back above 0.8500 yesterday afternoon and has managed to hold.
EUR/GBP disappointed bulls on the back of surprisingly good PMI data from the UK, and less than satisfactory services in Europe, coupled with continuing developments of the deterioration of EZ nations. The pair nonetheless holds above 0.8500 on a day that sees the ECB and BoE interest rate decisions (Carney’s first). No changes expected although speculation is we may hear a more dovish rhetoric from the ECB press conference. This morning, the Halifax House Prices for June came in positive at 0.6% vrs 0.4% previous and consensus.
EUR/GBP intraday bearish
The intraday bias is to the downside and a break below 0.8470 could open up doors to 0.8400 in an environment where the pound is outperforming. The chart is neutral since the pair fell from the recent top of the range at 0.8597 and May high, protecting April highs and 0.8800 zone.
EUR/GBP disappointed bulls on the back of surprisingly good PMI data from the UK, and less than satisfactory services in Europe, coupled with continuing developments of the deterioration of EZ nations. The pair nonetheless holds above 0.8500 on a day that sees the ECB and BoE interest rate decisions (Carney’s first). No changes expected although speculation is we may hear a more dovish rhetoric from the ECB press conference. This morning, the Halifax House Prices for June came in positive at 0.6% vrs 0.4% previous and consensus.
EUR/GBP intraday bearish
The intraday bias is to the downside and a break below 0.8470 could open up doors to 0.8400 in an environment where the pound is outperforming. The chart is neutral since the pair fell from the recent top of the range at 0.8597 and May high, protecting April highs and 0.8800 zone.