30 Aug 2013
EUR/GBP weighed on Euro weakness below 0.8550
FXstreet.com (Barcelona) - The EUR/GBP foreign exchange cross rate is last trading at fresh session lows 0.8534 resuming the selling started Wednesday's after BoE Carney's speech, ahead of a busy London session in terms of Euro data related, starting with German retail sales at 06:00 GMT.
EUR/GBP might bounce from the 0.85 support zone
“We have an offer at the key 0.8590 level in case of another retest,” said IFRMarkets analysts, adding: “The bears have shown strength again with the daily close back below this level. Decent support zone surrounding 0.85 suggests a bounce may still come our way.” The cross is down -0.7% so far for the week.
EUR/GBP key technical levels
Immediate support to the downside for EUR/GBP lies at yesterday's weekly lows 0.8528, followed by August 19 lows at 0.8511, and August 21 lows at 0.8507. To the upside, closest resistance shows at current levels as past Friday's lows 0.8537, followed by August 16 highs at 0.8555, and Wednesday's lows at 0.8571.
EUR/GBP might bounce from the 0.85 support zone
“We have an offer at the key 0.8590 level in case of another retest,” said IFRMarkets analysts, adding: “The bears have shown strength again with the daily close back below this level. Decent support zone surrounding 0.85 suggests a bounce may still come our way.” The cross is down -0.7% so far for the week.
EUR/GBP key technical levels
Immediate support to the downside for EUR/GBP lies at yesterday's weekly lows 0.8528, followed by August 19 lows at 0.8511, and August 21 lows at 0.8507. To the upside, closest resistance shows at current levels as past Friday's lows 0.8537, followed by August 16 highs at 0.8555, and Wednesday's lows at 0.8571.