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Forex: EUR/GBP up hill to reach 0.8800

By FXstreet.com,  October 28, 2011, 09:41:00 AM EDT

FXstreet.com (Barcelona) - It seems that the single currency is taking a break from yesterday's rally, as it is shown in today's performance.
The big news came in with the unveiling of the plan to overcome the debt crisis, but that was yesterday. Today we are seeing price movements without any major driver. Many market participants did not discard a technical profit-taking during the european and american trading hours.

At the moment of writing, the pair is down 0.28% at 0.8729.
Wall St. is down 0.04% just after the bell, in tone with the main european indices: FTSE100 -0.22%, CAC40 -0.46%, DAX30, -0.02%, IBEX35 -0.72%

Experts at Mataf.net indicate resistance levels to be found at 0.8740, 0.8720 and 0.8695. Meanwhile support levels are at 0.8670, 0.8640 and 0.8600




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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