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Forex: EUR/GBP resting on support

By FXstreet.com,  January 03, 2013, 03:15:00 AM EDT

FXstreet.com (Barcelona) - Following yesterday´s decline from the spike to 0.8153, EUR/GBP has decline to find support at Classic S1 support.

As market sentiment turned following initial relief after the temporary US fiscal cliff resolution, EUR/GBP was dragged lower to find support at 0.8095 where it is currently trading. Hourly RSI is currently at 37 with a slight upside bias. Spanish Unemployment Claims dropped 59.1k against expectations of a 50.3k rise. Ahead we have Swiss PMI at 08:30 GMT, German Unemployment follows at 08:55 GMT before EU M3 Money Supply at 09:00 GMT and BoE Credit Conditions and UK PMI Construction at 09:30 GMT. Danske analysts are neutral on the pair but on the balance recommend looking for selling opportunities.




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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