Back
16 May 2013
Forex: EUR/GBP hits 9-day low
FXstreet.com (Córdoba) - The euro extended its decline and fell to fresh lows against the pound during the American afternoon, given that the sterling has held pretty well to the recent greenback's comeback.
EUR/GBP dropped over 40 pips throughout the session and touched a low of 0.8419, last seen on May 7, before recovering slightly. At time of writing, the cross is trading around 0.8430, 0.3% below its opening price.
As for technical levels, immediate supports are seen at 0.8419 (daily low) and 0.8410 (low May 17), while resistances could be found at 0.8470 (21-day SMA) and 0.8500 (psychological level).
EUR/GBP dropped over 40 pips throughout the session and touched a low of 0.8419, last seen on May 7, before recovering slightly. At time of writing, the cross is trading around 0.8430, 0.3% below its opening price.
As for technical levels, immediate supports are seen at 0.8419 (daily low) and 0.8410 (low May 17), while resistances could be found at 0.8470 (21-day SMA) and 0.8500 (psychological level).