Back
28 Mar 2014
EUR/GBP defending against strong pound
FXStreet (Guatemala) - EUR/GBP has been a modest 20 pip play on the days session at the end of the week, posting gains through 0.8280 which were very short lived. EUR/GBP is settling in on 0.8260 and holding up vs a strong pound for the time being.
Actions Speak Louder Than Words
Strategists at RBS explained that the ECB easing expectations may be ramped up this week following the Euro-area March CPI estimate. “An undershoot in next Monday's CPI certainly increases the risks of an ECB response and may put pressure on EUR/USD”.
EUR/GBP Levels
The 20 DMA is 0.8322, the 50 DMA is 0.8276 and the 200 DMA is 0.8417. RSI (14) reads 37.50. Supports are ascending from 0.8204, 0.8225 and 0.8255. Spot is 0.8265 while resistances are 0.8282, 0.8336, 0.8364, 0.8400 and 0.8467.
Actions Speak Louder Than Words
Strategists at RBS explained that the ECB easing expectations may be ramped up this week following the Euro-area March CPI estimate. “An undershoot in next Monday's CPI certainly increases the risks of an ECB response and may put pressure on EUR/USD”.
EUR/GBP Levels
The 20 DMA is 0.8322, the 50 DMA is 0.8276 and the 200 DMA is 0.8417. RSI (14) reads 37.50. Supports are ascending from 0.8204, 0.8225 and 0.8255. Spot is 0.8265 while resistances are 0.8282, 0.8336, 0.8364, 0.8400 and 0.8467.