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17 Feb 2014
EUR/GBP bounces off 1-year low
FXStreet (Córdoba) - The EUR/GBP found support and managed to bounce off a 1-year low scored at the beginning of the Asian session amid broad GBP strength.
The EUR/GBP fell to its lowest level since January 2013 at 0.8156 but it recovered ground during the European trading turning intraday positive. However, with the recovery being capped by the 0.8200 psychological level, the EUR/GBP was confined to a phase of consolidation.
EUR/GBP levels to watch
At time of writing, the pair is trading at the 0.8190 zone, up 0.2% on the day, with immediate resistances lining up at 0.8200 (psychological level) and 0.8218 (100-hour SMA). Meanwhile, supports are seen at 0.8175 (Feb 14 low) and 0.8156 (Feb 17 low).
The EUR/GBP fell to its lowest level since January 2013 at 0.8156 but it recovered ground during the European trading turning intraday positive. However, with the recovery being capped by the 0.8200 psychological level, the EUR/GBP was confined to a phase of consolidation.
EUR/GBP levels to watch
At time of writing, the pair is trading at the 0.8190 zone, up 0.2% on the day, with immediate resistances lining up at 0.8200 (psychological level) and 0.8218 (100-hour SMA). Meanwhile, supports are seen at 0.8175 (Feb 14 low) and 0.8156 (Feb 17 low).