Analytics / Forex News
EUR/GBP remains capped below 0.7900 post UK data
10:46 31 March /2016 Forex
The EUR/GBP cross kept range just below 0.79 handle following the release of mixed economic releases from the British economy, including a better final GDP print.
EUR/GBP stalls a 3-day rally
Currently, the EUR/GBP pair trades 0.11% higher at 0.7894, reversing a spike to 0.7913 post UK GDP release. The cross in the EUR/GBP remained largely unchanged as the upbeat UK GDP backed gains in the cable were offset by a renewed bout of buying interest in the EUR/USD pair.
Moreover, markets remain wary and mull over mixed UK dataflow, with the current account hitting record deficit, while the economy emerges stronger than expected in Q4 2015. The third and final estimate of GDP came at 0.6% in Q4 2015 versus prior estimate of 0.5%. The annual rate of GDP growth was also higher at 2.1%, compared to previous estimate of 1.9%.
Attention now turns towards the Euro zone flash CPI estimate due later shortly for further cues on the cross.
EUR/GBP Technical Levels
To the upside, the next resistance is located at 0.7947/50 (Mar 24 High/ psychological levels), above which it could extend gains to 0.8000 (round number/ Dec 2014 levels). To the downside immediate support might be located at 0.7875/76 (1h 200-SMA/ 5-DMA) below that at 0.7839/11 (20-DMA/ Mar 22 Low).
to other newsall news
EUR/USD extended gains to fresh session high of 1.0750 as the unwinding of the Trump trade gathered pace.The spot now trades more than 200 pips above the last month’s closing price of 1.0517. This forces us to consider the possibility of the pair snapping the thre
07:23 23 January /2017 Forex
Major Asian indices dropped along with the US dollar as fears about Trump’s protectionist policies forced investors to move out of risky assets and into safe havens - gold, Yen, treasuries. At the time of writing, Japan’s Nikkei index was down 1.11%. Australia’s S&P/ASX 200 was trading 0.75% low
07:00 23 January /2017 Forex
The USD/CAD pair is losing height in Asia, now trading just short of the 100-DMA support of 1.3278 following Friday’s Doji candle.USD is on the back footThe drop in the USD/CAD in Asia is due to broad based USD sell-off and not due to oil prices, w
06:46 23 January /2017 Forex