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20 Mar 2013
Forex: EUR/GBP back to 0.8550 on Osbourne comments
FXstreet.com (Barcelona) - The pair retraced 50 pips after reaching fresh session highs in the boundaries of the 0.8600 handle, after renewed strength in the sterling has been weighting on the cross. The pound found respite on Chancellor G.Osbourne’s comments on the UK Budget, resulting less dovish than previously expected.
In the meantime, the shared currency is testing fresh highs against the greenback, keeping the positive mood so far.
At the moment, the pair is up 0.48% at 0.8550 with the next resistance at 0.8595 (high Mar.18) ahead of 0.8649 (MA21d) and then 0.8653 (MA10d),
On the other hand, a breakdown of 0.8506 (low Mar.19) would clear the way to 0.8451 (50% of 0.8086-0.8815) and finally 0.8442 (low Feb.11).
In the meantime, the shared currency is testing fresh highs against the greenback, keeping the positive mood so far.
At the moment, the pair is up 0.48% at 0.8550 with the next resistance at 0.8595 (high Mar.18) ahead of 0.8649 (MA21d) and then 0.8653 (MA10d),
On the other hand, a breakdown of 0.8506 (low Mar.19) would clear the way to 0.8451 (50% of 0.8086-0.8815) and finally 0.8442 (low Feb.11).