23 May 2014
EUR/GBP defending the downside
FXStreet (Guatemala) - EUR/GBP is trading at 0.8099, up 0.08% on the day, having posted a daily high at 0.8107 and low at 0.8080
EUR/GBP has been edging up towards the closing hours on the week. Despite all of the positive sentiment around the UK economy of late. Strategists at Rabobank explained, even though there is a lot of good news in the price, we expect sterling to remain well supported and we continue to favour selling EUR/GBP on rallies towards the 0.800 level.
EUR/GBP Levels
Current price is 0.8101, with resistance ahead at 0.8107 (Daily High), 0.8111 (Daily Classic R1), 0.8115 (Yesterday's High), 0.8116 (Hourly 100 SMA) and 0.8119 (Weekly Classic S1). Next support to the downside can be found at 0.8098 (Daily Classic PP), 0.8095 (Daily Open), 0.8095 (Hourly 20 EMA), 0.8094 (Monthly Low) and 0.8094 (Weekly Low).
EUR/GBP chart formations
Looking at price patterns, we can see a Hammer 4-hour candlestick formation.
EUR/GBP has been edging up towards the closing hours on the week. Despite all of the positive sentiment around the UK economy of late. Strategists at Rabobank explained, even though there is a lot of good news in the price, we expect sterling to remain well supported and we continue to favour selling EUR/GBP on rallies towards the 0.800 level.
EUR/GBP Levels
Current price is 0.8101, with resistance ahead at 0.8107 (Daily High), 0.8111 (Daily Classic R1), 0.8115 (Yesterday's High), 0.8116 (Hourly 100 SMA) and 0.8119 (Weekly Classic S1). Next support to the downside can be found at 0.8098 (Daily Classic PP), 0.8095 (Daily Open), 0.8095 (Hourly 20 EMA), 0.8094 (Monthly Low) and 0.8094 (Weekly Low).
EUR/GBP chart formations
Looking at price patterns, we can see a Hammer 4-hour candlestick formation.