EUR/GBP hovers near its Friday levels ahead of EZ/UK data

FXstreet.com (Athens) – The EUR/GBP is trading under pressure the last couple of hours ahead of Euro land PMIs as well as on the UK PMI.

Downtrend pattern to prevail?

The EUR/GBP, while lower, has been caught in a sidelines trend shift near its Friday close area (0.8463). As long as the EUR/GBP is trading well under its both 21-EMA (0.8485) and 10-EMA (0.8496), as well as its 200-daily SMA (0.8534) it seems that the downtrend pattern has probabilities to continue to prevail across the board.

What’s more, the downwards trending RSI might put an additional pressure on the cross, while solid supports could be well found on the daily lows as of 0.8428 (October 16) and 0.8424 (October 4).

USD/JPY continues to set up a bullish stance amidst Japanese holidays

The USD/JPY has been trading upwards since the kick off of the Wellington trading session amidst a fairly iliquid session, in which Japanese markets were closed due to public festivity.
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Flash: Specs sold USD, JPY vs EUR - Nomura

CFTC released positioning data last Friday for the week ending October 22, with the most important highlights, as reported by Nomura, being "the $1.6bn of JPY selling, bringing net shorts to -$9.2bn, and -$2.3bn of USD selling, bringing net shorts to -$4.8bn, while on the other side, EUR $2.3bn of longs were added to, bringing net longs to $12.5bn."
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