5 Feb 2014
The balance on EUR/GBP changed, but is it for long?
FXStreet (Moscow) - EUR/GBP’s rally looks exhausted, as the pair spent the morning in narrow ranges around 0.8280.
EUR/GBP - the battle of PMIs …again
The pair spent the morning sliding from 0.8279 at the open to 0.8265 session low, but rebounding back for now. Although the pair corrected from the recent highs at 0.8325, the rally may easily resume provided we get positive EMU data, and positive Draghi comments. Today is going to be interesting, as we will have a battle between the British and the EMU reports, as every PMI number will be important for building market expectations. The region that proves to be the strongest by index will define the future of the pair. To the downside the support comes at 0.8253 and followed by 0.8229. The upside is limited by 0.8291 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8291 with support below at 0.8253, 0.8229 and 0.8191, with resistance above at 0.8315, 0.8353, and 0.8377. Hourly Moving Averages are mixed, with the 200SMA at 0.8250 and the daily 20EMA flat at 0.8268. Hourly RSI is neutral at 37.
EUR/GBP - the battle of PMIs …again
The pair spent the morning sliding from 0.8279 at the open to 0.8265 session low, but rebounding back for now. Although the pair corrected from the recent highs at 0.8325, the rally may easily resume provided we get positive EMU data, and positive Draghi comments. Today is going to be interesting, as we will have a battle between the British and the EMU reports, as every PMI number will be important for building market expectations. The region that proves to be the strongest by index will define the future of the pair. To the downside the support comes at 0.8253 and followed by 0.8229. The upside is limited by 0.8291 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8291 with support below at 0.8253, 0.8229 and 0.8191, with resistance above at 0.8315, 0.8353, and 0.8377. Hourly Moving Averages are mixed, with the 200SMA at 0.8250 and the daily 20EMA flat at 0.8268. Hourly RSI is neutral at 37.