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5 Aug 2013
EUR/GBP below 0.8700
FXstreet.com (London) - EUR/GBP is continuing to move lower in the opening hours of the European markets.
The pair has fallen over a big figure since Thursday and is continuing to the downside below the 0.8700 handle. Markit Services PMI in the EZ have printed positively overall although Germany has come out with 51.3 vs a consensus of 52.5. We will see UK Markit Services PMI up shortly at 0828GMT expected at 57.2.
EUR/GBP offered and levels
EUR/GBP, although offered, it has consolidated above the 23.6% retracement of the move up from May. 20d ma 0.8644, 50 d ma 0.8577, 200 d ma 0.8423. RSI (9) reads 57.44. The supports are ascending from 0.8622, 0.8645, 0.8654 and 0.8675. spot is currently 0.8684 while resistances are 0.8745, 0.8770, 0.8793 and 0.8815
The pair has fallen over a big figure since Thursday and is continuing to the downside below the 0.8700 handle. Markit Services PMI in the EZ have printed positively overall although Germany has come out with 51.3 vs a consensus of 52.5. We will see UK Markit Services PMI up shortly at 0828GMT expected at 57.2.
EUR/GBP offered and levels
EUR/GBP, although offered, it has consolidated above the 23.6% retracement of the move up from May. 20d ma 0.8644, 50 d ma 0.8577, 200 d ma 0.8423. RSI (9) reads 57.44. The supports are ascending from 0.8622, 0.8645, 0.8654 and 0.8675. spot is currently 0.8684 while resistances are 0.8745, 0.8770, 0.8793 and 0.8815