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19 Sep 2013
EUR/GBP is on the bid
FXstreet.com (London) - For EUR/GBP, UK retail sales took a hit, coming in lower than expected and lower than the previous as well. Year on year the numbers printed 2.1% vrs consensus 3.3% and against previous 3.0%.
Month on month the actual number came in -0.9% This is the first bad number from the UK for some time, so sterling is giving back some of its gains across the board and had triggered stops through the cross in 0.8410/15., reaching a high of 0.8445. The pair is currently settled to 0.8430 having ticked up from 0.8420 where it fell after the initial spike.
EUR/GBP Levels
The 20 DMA is .8475, the 50 DMA is .8561 and the 200 DMA is .8500. RSI (14) reads 69. Supports are ascending from .8286, .830,0 .8326, .8353, .8382, .8399. Spot is .84130 while resistances are .8450 and 0.8470 and .8516.
Month on month the actual number came in -0.9% This is the first bad number from the UK for some time, so sterling is giving back some of its gains across the board and had triggered stops through the cross in 0.8410/15., reaching a high of 0.8445. The pair is currently settled to 0.8430 having ticked up from 0.8420 where it fell after the initial spike.
EUR/GBP Levels
The 20 DMA is .8475, the 50 DMA is .8561 and the 200 DMA is .8500. RSI (14) reads 69. Supports are ascending from .8286, .830,0 .8326, .8353, .8382, .8399. Spot is .84130 while resistances are .8450 and 0.8470 and .8516.