{"id":15283,"date":"2010-11-12T10:35:44","date_gmt":"2010-11-12T15:35:44","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=15283"},"modified":"2010-11-12T10:35:44","modified_gmt":"2010-11-12T15:35:44","slug":"forex-eurgbp-finds-support-at-0-8500","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/12\/forex-eurgbp-finds-support-at-0-8500\/","title":{"rendered":"Forex: EUR\/GBP Finds Support at 0.8500"},"content":{"rendered":"<p><strong>By Greg Holden<\/strong> &#8211; The EUR\/GBP has been receiving some support at its current price  level. We can see on the chart below that the pair has touched the  0.8500 price mark and hurriedly bounced off. The EUR has been falling  amidst <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/11\/09\/eur-plummets-on-peripheral-debt-concerns\/\">debt concerns<\/a> in the euro zone\u2019s periphery, but it appears the British pound\u2019s recent  sell-off against other pairs, such as the USD and JPY, has assisted in a  modicum of support for the EUR, at least against this currency.<\/p>\n<p>What is also worth noting is the fact  that the RSI and Stochastic (slow) indicators both reached into the  over-bought region during the pair\u2019s downward descent, but have since  exited this area. Their breach of the over-bought region was an  indication to sell, but their hasty retreat may indicate that technical  pressure has begun to shift into a bullish posture.<\/p>\n<p>If the <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic (slow)<\/a> on the chart quickly reaches into the over-sold region, where it  appears to be heading, this could support the technical correction we\u2019re  seeing on this pair. The RSI is less likely to provide direction unless  the pair moves in a highly volatile manner. Traders should therefore  pay closer attention to the Stochastic today. If it drops below the  over-sold region, the pair may find further upward support. If not, we  could see the downtrend of the EUR persist into the weekend\u2019s close.<\/p>\n<p><strong>EUR\/GBP \u2013 Weekly Chart<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/EURGBP-Weekly-Chart.JPG\" alt=\"eurusd, euro, us dollar, fiber, eur usd, euro usd, usd eur, usd euro, forex trading, currency trading\" width=\"550\" height=\"512\" \/><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                                              may         not       be                   suitable         for         all                                   investors.                  There            is     a                                                          possibility                      that                            you                  could                          sustain  a        loss                of      all              of              your                                                   investment       and                                          therefore       you                                  should         not                         invest                           money         that             you                                   cannot                     afford  to                             lose.        You                                should           be                  aware            of                      all              the              risks                                         associated                 with                    Foreign                             Exchange                                 trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Greg Holden &#8211; The EUR\/GBP has been receiving some support at its current price level. We can see on the chart below that the pair has touched the 0.8500 price mark and hurriedly bounced off. The EUR has been falling amidst debt concerns in the euro zone\u2019s periphery, but it appears the British pound\u2019s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/11\/12\/forex-eurgbp-finds-support-at-0-8500\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex: EUR\/GBP Finds Support at 0.8500&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-15283","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=15283"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15283\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=15283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=15283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=15283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}