5 Dec 2013
EUR/GBP lacks momentum on ECB decision to hold rates at 0.25%
FXstreet.com (Barcelona) - Having shuffled through today’s UK talking points, including the UK Autumn Budget Statement and the BoE decision to hold rates and asset purchases, EUR/GBP has posted a fresh high on the ECB’s decision to hold rates at 0.25%, before settling at 0.8316 where it is presently trading.
EUR/GBP low on momentum following unchanged central bank calls
With the BoE holding rates and asset purchases, EUR/GBP initially dipped before pushing close to monthly highs set this morning at 0.8322, but overall movement was subdued. The ECB decision to hold rates at 0.25% caused spot to edge higher in the immediate aftermath but without conviction. Looking ahead, all eyes will be on the pending policy statement and press conference at 13:30 GMT.
What are today’s key EUR/GBP levels?
Hourly RSI sits at 62, edging higher, with the FXstreet.com Trend Index showing the par to be slightly bullish. The hourly 200 SMA is bearish at 0.8322, alongside the daily 20 EMA, also bearish at 0.8353. The daily pivot point can be located at 0.8296 with support found at 0.8270 (S1), 0.8247 (S2) and 0.8221 (S3), and resistance at 0.8319 (R1), 0.8345 (R2) and 0.8368 (R3).
EUR/GBP low on momentum following unchanged central bank calls
With the BoE holding rates and asset purchases, EUR/GBP initially dipped before pushing close to monthly highs set this morning at 0.8322, but overall movement was subdued. The ECB decision to hold rates at 0.25% caused spot to edge higher in the immediate aftermath but without conviction. Looking ahead, all eyes will be on the pending policy statement and press conference at 13:30 GMT.
What are today’s key EUR/GBP levels?
Hourly RSI sits at 62, edging higher, with the FXstreet.com Trend Index showing the par to be slightly bullish. The hourly 200 SMA is bearish at 0.8322, alongside the daily 20 EMA, also bearish at 0.8353. The daily pivot point can be located at 0.8296 with support found at 0.8270 (S1), 0.8247 (S2) and 0.8221 (S3), and resistance at 0.8319 (R1), 0.8345 (R2) and 0.8368 (R3).