The
EUR/GBP has broken out of a sideways consolidation Monday, to recently touch an intraday high of 0.8473 during European trading.However, recent movements have capped the pair at this level, moving the cross back towards
0.8466/68 at the time of writing. Despite this easing however, the cross remains in positive territory and according to Mataf.net analysts, the
EUR/GBP will encounter resistances at 0.8466, followed by 0.8481, and ultimately 0.8499. Conversely, a break below 0.8433 will trigger support at 0.8415 and 0.8400.
Not much has occurred by ways of data or catalysts – earlier today in Italy, Industrial Orders n.s.a. (YoY) came in at -10.0% in March, compared with only -7.9% previously. Moreover, Industrial Orders s.a. (MoM) yielded a growth of +1.6%, improving from -2.5% in the previous quarter. Finally, Industrial Sales n.s.a. (YoY) declined -7.6% in the March quarter, relative to a figure of -6.0% previously.
| S3 |
S2 |
S1 |
R1 |
R2 |
R3 |
|---|
| 0.8403 |
0.8424 |
0.8445 |
0.8481 |
0.8502 |
0.8523 |
| Trend Index [][?][/URL] |
OB/OS Index [][?][/URL] |
|---|
| Data updated on May 20 a 10:30 GMT (15-minute timeframe) |
| Strongly Bullish |
Neutral |