OctaFX | OctaFX Forex Broker
Open trading account

EUR/GBP jumps to session highs at 0.8449/56

FXstreet.com (Barcelona) - The EUR/GBP has coasted higher in recent minutes, inking fresh maximums at the time of writing during European trading, presently trading in the heights of 0.8449/56.

The pair has flexed its muscles Friday, operating positively at a rate of +0.14% – the pair will face calculated resistance at 0.8458, then 0.8483, and finally 0.8502. On the pullback, a movement below 0.8414 will initiate supportive structures at 0.8395 ahead of 0.8397, notes the Mataf.net analyst team.

In the EMU, Construction Output s.a. (MoM) came in at -1.7% in March, compared to -0.3% previously. Moreover, Construction Output w.d.a (YoY) declined -7.9% in March, relative to +1.7% in the previous month.

According to the ICN.com Technical Analyst Team, “The EUR/GBP continued to move lower yesterday, pushing towards 0.8600 key support level again. The bearish bias will continue to be favored so long as the descending resistance -shown on the daily chart above -and 0.8500 key resistance are halting upside attempts.”

EUR/CAD high 1.3201

The Pair have exceeded its previous high this week on a bull run since the decline on Wednesday with the dollar leading the herd.
Read more Previous

EUR/USD little changed after EMU data

The shared currency kept the range after the Construction Output in the euro area contracted 1.7% on a monthly basis during March, prolonging the negative momentum in the cross after February’s drop of 0.3%...
Read more Next
Start livechat