Shares 125 Views

EUR/GBP comes down to test 0.8600

EUR/GBP has faded the overnight spike to the 0.8640 area on Monday, now returning to the 0.8600 neighbourhood in response to increased EUR weakness.

EUR/GBP upside capped in the mid-0.8600s

Last week’s sell off in the British Pound has allowed the European cross to regain the 0.8600 handle and above, although the up move lacked of follow through, sparking the ongoing correction.

In addition, EUR-sellers stay quite active at the beginning of the week, as the bid tone around the greenback remains on the rise ahead of the opening bell in Wall St.

Data wise in Euroland, Investor Confidence gauged by the Sentix index has eased a tad to 17.4 for the current month, down from January’s 18.2, ahead of the speech by ECB’s M.Draghi. Across the Channel, Carney’s speech on Thursday and UK’s Industrial/Manufacturing Production on Friday will be the salient events.

EUR/GBP key levels

The cross is now losing 0.40% at 0.8607 and a break below 0.8570 (low Feb.3) would aim for 0.8530 (55-day sma) and finally 0.8488 (low Feb.1). On the other hand, the next hurdle aligns at 0.8646 (high Feb.3) ahead of 0.8657 (100-day sma) and then 0.8733 (4-month resistance line).

You may be interested

Allianz
shares19 views

Insurance Giant Allianz Is Testing a Token to Move Money Internally

Brian Evans - Apr 19, 2018

Allianz is testing a blockchain token to move money between its global affiliates.

Crypto
shares32 views

SEC Subpoenas Riot Blockchain Over Cryptocurrency Plans

Brian Evans - Apr 19, 2018

Various worrisome trends involving blockchain technology exist as of right now. One of the more popular solutions for struggling firms is to announce blockchain or cryptocurrency plans.…

Altcoin News
shares21 views

Social Snafu: Twitter Verifies a Scam Verge Cryptocurrency Account

Brian Evans - Apr 19, 2018

The official Verge account, meanwhile, has yet to get its blue badge. A fraudulent Twitter account is making the rounds in the cryptocurrency market, with anonymous cryptocurrency Verge…

Most from this category

%d bloggers like this: