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17 Sep 2013
EUR/GBP still under the 0.84 handle ahead of German ZEW & UK CPI
FXstreet.com (Barcelona) - The EUR/GBP foreign exchange cross rate is last trading at 0.8388 slightly in the positive ahead of key risk event for the London session in the form of German ZEW at 09:00 GMT and UK CPI half hour earlier.
EUR/GBP slow grind lower still in order
“We stay short as price is so far holding below 0.84 but the channel support is seeing buyers,” said IFRMarkets analysts, adding: “A slow grind lower may still be in order - we have our profit stop just above the 0.84 level which should provide protection - prior support now resistance.”
EUR/GBP key technical levels
Immediate support to the downside for EUR/GBP lies at recent session lows 0.8383, followed by yesterday's weekly lows at 0.8370, and Friday's fresh 9-month lows at 0.8355. To the upside, closest resistance shows at yesterday's weekly highs/Sept 06-12 lows 0.8392, followed by Sept 09 lows at 0.8409, and Friday's highs at 0.8418.
EUR/GBP slow grind lower still in order
“We stay short as price is so far holding below 0.84 but the channel support is seeing buyers,” said IFRMarkets analysts, adding: “A slow grind lower may still be in order - we have our profit stop just above the 0.84 level which should provide protection - prior support now resistance.”
EUR/GBP key technical levels
Immediate support to the downside for EUR/GBP lies at recent session lows 0.8383, followed by yesterday's weekly lows at 0.8370, and Friday's fresh 9-month lows at 0.8355. To the upside, closest resistance shows at yesterday's weekly highs/Sept 06-12 lows 0.8392, followed by Sept 09 lows at 0.8409, and Friday's highs at 0.8418.