Back
27 Aug 2013
EUR/GBP consolidates at 3-week highs
FXstreet.com (Córdoba) - The EUR/GBP advanced to fresh 3-week highs during the American session as the shared currency outperforms the Sterling amid volatile markets and risk aversion.
EUR/GBP rose more than 40 pips throughout the day and peaked at 0.8622, scoring its highest level since Aug 7. However, the shared currency lost momentum and pulled back slightly to currently trade around 0.8615 up 0.5% on the day.
EUR/GBP levels to watch
On the upside, immediate resistance levels could be found at 0.8622 (daily high), 0.8670 (Aug 6 high) and 0.8700 (psychological level). On the downside, supports are seen at 0.8600 (psychological level/20-day SMA) and 0.8580 (daily low) ahead of 0.8545 (100-day SMA).
EUR/GBP rose more than 40 pips throughout the day and peaked at 0.8622, scoring its highest level since Aug 7. However, the shared currency lost momentum and pulled back slightly to currently trade around 0.8615 up 0.5% on the day.
EUR/GBP levels to watch
On the upside, immediate resistance levels could be found at 0.8622 (daily high), 0.8670 (Aug 6 high) and 0.8700 (psychological level). On the downside, supports are seen at 0.8600 (psychological level/20-day SMA) and 0.8580 (daily low) ahead of 0.8545 (100-day SMA).