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20 Feb 2014
EUR/GBP offers testing 0.8220 key support
FXStreet (Guatemala) - EUR/GBP has been testing the key support area on the lower end of the handle and has made a low of 0.8214. Currently the cross is attracting demand there and trades back onto 0.8230 post the European dramatics overnight.
Overall, the data disappointed and is likely to add further speculation that there will be actions that the EBC are going to need to take soon. From the European calendar we received the Euro zone flash PMIs that came in weaker than expected at 52.7 against a consensus for 53.1. The manufacturing PMI arrived as 53.0 (expected at 54.0) and the services PMI printed 51.7 (consensus at 51.9). Then, also, the services PMIs for France and Germany were notably lower than expected at 46.9 and 54.7, respectively.
EUR/GBP Levels
The 20 DMA is 0.8253, the 50 DMA is 0.8296 and the 200 DMA is 0.8445. RSI (14) reads 49.46. Supports are ascending from 0.8134, 0.8145, 0.8157, 0.8192. Spot is 0.8232 while resistances are 0.8269, 0.8286, 0.8301 and 0.8337.
Overall, the data disappointed and is likely to add further speculation that there will be actions that the EBC are going to need to take soon. From the European calendar we received the Euro zone flash PMIs that came in weaker than expected at 52.7 against a consensus for 53.1. The manufacturing PMI arrived as 53.0 (expected at 54.0) and the services PMI printed 51.7 (consensus at 51.9). Then, also, the services PMIs for France and Germany were notably lower than expected at 46.9 and 54.7, respectively.
EUR/GBP Levels
The 20 DMA is 0.8253, the 50 DMA is 0.8296 and the 200 DMA is 0.8445. RSI (14) reads 49.46. Supports are ascending from 0.8134, 0.8145, 0.8157, 0.8192. Spot is 0.8232 while resistances are 0.8269, 0.8286, 0.8301 and 0.8337.