Eur/Gbp above 200 hour M/A on sterling weakness

Written December 3, 2009 at 4:25 AM EST by  

Eur/Gbp has risen above its 200 hour M/A of .9063, mainly on sterling’s weakness going into Services PMI figures out at 4:30 EST. If the pair can get a stronghold above look for a run to .9085 where the 100 hour M/A lies. Further upward momentum could bring pair to .9105, a level it found hard to break during yesterday’s session. If the level holds we should see a move back to .9040-45 area.

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