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Forex Flash: EUR/GBP pushes above pivot point

By FXstreet.com,  January 10, 2013, 03:08:00 AM EDT

FXstreet.com (Barcelona) - Having traded in between the daily pivot point and Classic S1 support overnight, EUR/GBP has pushed higher ahead of the European open.

Spot largely struggled to climb above the daily pivot point at 0.8151 during the overnight session and posted a brief low at 0.8144. Spot is currently trading at 0.8156 and hourly MA´s are indicating an upside bias. RSI is at 60 and moving with an upside bias. The overnight session saw bullish Chinese economic data come in alongside slightly lower Japanese numbers. This morning has seen French CPI and Industrial Output climb above forecasts. Spain has a 5 and 10 year auction before Greek CPI at 10:00 GMT. However the headline events of the day are the BoE and ECB meets at 12:00, 12:45 and 13:30 GMT respectively.




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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