OctaFX | OctaFX Forex Broker
Open trading account

EUR/GBP testing 20 DMA on downside

FXStreet (Guatemala) - EUR/GBP is currently trading at 0.7340 with a high of 0.7378 and a low of 0.7333.

EUR/GBP has recovered for the daily lows where the cross has been pressured from the 0.74 handle down to test the mid range of the 0.73 handle. The cross has been otherwise bid and rallied through the 200 DMA in the closing business of September. The cross is now trading within the vicinity of the 20 DMA on sterling strength with cable scoring new highs.

EUR/GBP levels

Karen Jones, chief analyst at Commerzbank explained minor support comes in around the 200 day moving average at 0.7290, but ideally she would like to see a close below the 55 day ma at 0.7238 and the September low at 0.7198 to negate upside pressure and refocus attention on the downside to the .6937 July low.

Pertaining to the US economy, we had the FOMC minutes today of which details that can be read here.

Gold briefly rises above $1,150/oz after Fed minutes

Gold prices saw a short-lived spike during the American afternoon, with spot climbing briefly above $1,150.00 an ounce, but the rally quickly faded and the commodity shed over $10.00, to end the day around $1,140.00.
Read more Previous

GBP/CAD remains capped by 2.0000

GBP/CAD erased most of its intraday losses and ended the day around 1.9980, having traded as low as 1.9909 at one stage.
Read more Next
Start livechat