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Forex: EUR/GBP continues climb off morning low

By FXstreet.com,  January 15, 2013, 06:50:00 AM EDT

FXstreet.com (Barcelona) - EUR/GBP has continued to climb throughout the European session, having posted a low at 0.8296 prior to the European open.

The pair initially climbed to confirm the overnight opening high at 0.8325, before declining to find support at the daily pivot point at 0.8310. Spot has since continued its move higher and is currently trading at 0.8316, with the hourly 20 and 5 MA´s indicating some short term upside potential. Hourly RSI is at 59 and moving with some upside momentum too. This morning has seen equally soft European and UK economic data, although the EU Trade balance significantly improved in November. Ahead, focus will shift to US PPI and Retail Sales at 13:30 GMT for signs as to whether the seeming recovery has legs of not.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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