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Alert - 18:00 (CET) - Sterling climbs 1.8% against the Euro
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The EurGbp (euro against the sterling) is trading at 0.7786, ranging from 0.7786 to 0.7666. The current price os under yesterday's close at 0.7869. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are over the 200-day EMA, with the price under this last.
The supports are set at 0.7702 (October 6th low), 0.7607 (23.6% retracement level) and 0.7391 (January 28th low). On the other hand, the resistances are at 0.7855 (October 10th high), 0.8187 (September 3rd and historical high) and 0.8250.
This session, the Sterling climbed 1.85% against the Euro, as the traders consider that the UK rescue plan is better than the one from the Eurozone.
Checking the hourly graphics again, the current price is under the 0.00% (0.8199) and over the 23.60% (0.7607) Fibonacci retracement lines. The Bands of Bollinger are showing a volatility per hour of 300 pips and the 60-minute Relative Strenght Index is at 27 points, oversold.
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