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Alert - 15:45 (CET) - EurGbp
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The EurGbp (euro against the sterling) is trading at 0.7774, ranging from 0.7744 to 0.7797. The current price is at yesterday's close at 0.7775. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
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.
During the week, the pair has been ranging from 0.7736 to 0.7967, under last week's close at 0.7867. The fact that the British Government has the most complete bailout plan allowed the Sterling to advance 1.16% against the Euro.
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 45 pips and the 60-minute Relative Strenght Index is at 50 points, rebounding from the oversold area.
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