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Forex: EUR/GBP dropping back down towards 0.8600

By FXstreet.com,  September 29, 2010, 09:29:00 AM EDT

FXstreet.com (Barcelona) - The Euro common currency received a boost on robust economic data earlier, carrying the EUR/GBP to a daily and 4-month high of 0.8630. Late-afternoon trading over the European continent however has the pair coming off those highs as it heads towards the 0.8600 marker.

Currently the EUR/GBP quotes at 0.8603 as it awaits the NY open for further direction. If bearish momentum at time of writing continue, immediate support according to the FXsteet live charts are listed at 0.8586 and 0.8564 while critical levels above are placed at 0.8616 and 0.8637.




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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