30 Jul 2013
EUR/GBP jumps to session highs
FXstreet.com (New York) - The EUR/GBP technical cross climbed to new highs Tuesday morning during US trading, after an earlier tranche of German data helped fuel an advance.
Earlier today in Germany, the Consumer Price Index (YoY) came in at +1.9% in July, against expectations of +1.8%. Moreover, the Harmonized Index of Consumer Prices (YoY) yielded +1.9% in July, vs. estimates of +1.8%.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP jumped above 0.8645 level, and extended the rally above our first target for earlier scenario at 0.8650 and approaching the second at 0.8690. Accordingly, our bullish scenario continues to be valid and will probably continue.”
At the time of writing, the EUR/GBP is presently negotiating a gain of +0.37% above it’s opening, surging to fresh highs of 0.8685 Tuesday. In terms of the technical levels, the EUR/GBP remains constrained by resistance at 0.8681, onto 0.8712, and finally 0.8745, notes the Danske Research Team.
Earlier today in Germany, the Consumer Price Index (YoY) came in at +1.9% in July, against expectations of +1.8%. Moreover, the Harmonized Index of Consumer Prices (YoY) yielded +1.9% in July, vs. estimates of +1.8%.
EUR/GBP strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/GBP jumped above 0.8645 level, and extended the rally above our first target for earlier scenario at 0.8650 and approaching the second at 0.8690. Accordingly, our bullish scenario continues to be valid and will probably continue.”
At the time of writing, the EUR/GBP is presently negotiating a gain of +0.37% above it’s opening, surging to fresh highs of 0.8685 Tuesday. In terms of the technical levels, the EUR/GBP remains constrained by resistance at 0.8681, onto 0.8712, and finally 0.8745, notes the Danske Research Team.