25 Apr 2014
EUR/GBP may have another run at 0.8250
FXStreet (Moscow) - EUR/GBP is trading around 0.8230 edging higher to 0.8240 area before the UK data.
It the pound’s turn!
From Monday and on the euro was the one who wore the pants in the pair dictating the direction based on the data from the EMU region, but now it’s the pound’s turn to take everything under control. UK Retail sales may become the main market mover of the day, and as the investors expect to see the sharp decrease of the readings, the further rise of the pair is not ruled out with initial target at 0.8247 resistance level. Nevertheless, the keep in mind the recovering British labor market, and rising income of consumers, that could have triggered the retail sales back in March. The investors didn’t price in the positive outcome, thus, the move on that may be exaggerated with initial target at 0.8218 followed by 0.8204.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8233, with support below at 0.8218, 0.8204 and 0.8189, with resistance above 0.8247, 0.8262, and 0.8276. Hourly Moving Averages are mixed, with the 200SMA at 0.8232 and the daily 20EMA bearish at 0.8253. Hourly RSI is bearish at 46.
It the pound’s turn!
From Monday and on the euro was the one who wore the pants in the pair dictating the direction based on the data from the EMU region, but now it’s the pound’s turn to take everything under control. UK Retail sales may become the main market mover of the day, and as the investors expect to see the sharp decrease of the readings, the further rise of the pair is not ruled out with initial target at 0.8247 resistance level. Nevertheless, the keep in mind the recovering British labor market, and rising income of consumers, that could have triggered the retail sales back in March. The investors didn’t price in the positive outcome, thus, the move on that may be exaggerated with initial target at 0.8218 followed by 0.8204.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8233, with support below at 0.8218, 0.8204 and 0.8189, with resistance above 0.8247, 0.8262, and 0.8276. Hourly Moving Averages are mixed, with the 200SMA at 0.8232 and the daily 20EMA bearish at 0.8253. Hourly RSI is bearish at 46.