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FxWirePro: EUR/GBP rejected at major trendline resistance at 0.8910, slips below 200-DMA

  • EUR/GBP failed to break past major trendline resistance at 0.8910, extends retrace for 2nd consecutive session.
     
  • The pair has slipped below 200-DMA and daily cloud and is currently hovering around 23.6% Fib at 0.8833.
     
  • The pair is trading in a narrow range, with a day's high at 0.8841 and a low at 0.8823.
     
  • The pair is trading in a symmetric triangle pattern and 20-DMA at 0.8808 offers strong support, break below could see extension of weakness.
     
  • RSI has turned south and Stochs are showing retrace from near overbought levels.
     
  • Technical studies still support upside in the pair. Breakout at 0.8910 could negate bearish bias. Scope then for upside till 0.90 levels.

Support levels - 0.8808 (20-DMA), 0.8716 (Feb 1 low), 0.8686 (Jan 25 low)

Resistance levels - 0.8842 (5-DMA), 0.8859 (nearly converged cloud and 200-DMA), 0.89 (trendline)

Recommendation: Watch out for break below 20-DMA for extension of weakness. Target 0.8720/ 0.8690.

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February 21 09:00 UTC Released

EZMarkit Serv Flash PMI

Actual

56.7 bln EUR

Forecast

57.6 bln EUR

Previous

58 bln EUR

February 21 09:00 UTC Released

EZMarkit Mfg Flash PMI

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58.5 Bln EUR

Forecast

59.3 Bln EUR

Previous

59.6 Bln EUR

January 31 00:00 UTC 3080730807m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 3080730807m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 4262742627m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 3080730807m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 4262742627m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 3080730807m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 3080730807m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 3080730807m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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