5 May 2014
EUR/GBP is around 0.8220, and may retreat
FXStreet (Moscow) - EUR/GBP started the day at 0.8215, and moved back and forth during Asian trades, reaching 0.8222 by the moment.
Busy economic calendar
The pair is trading in close vicinity to two-month lows, and another attack at 0.82 support area is not ruled out given a busy economic calendar of the EMU and the UK this week. Today we will get only the euro zone PPI, and although it’s a second tier data, it is still may be of interest in light of the looming ECB meeting, and recent CPI data. If numbers keep pointing to slowing inflationary pressure, it may send the pair down with initial target at 0.8204 support followed by 0.8187.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8216, with support below at 0.8204, 0.8187 and 0.8175, with resistance above 0.8233, 0.8245, and 0.8262. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8224 and the daily 20EMA bearish at 0.8239. Hourly RSI is bullish at 61.
Busy economic calendar
The pair is trading in close vicinity to two-month lows, and another attack at 0.82 support area is not ruled out given a busy economic calendar of the EMU and the UK this week. Today we will get only the euro zone PPI, and although it’s a second tier data, it is still may be of interest in light of the looming ECB meeting, and recent CPI data. If numbers keep pointing to slowing inflationary pressure, it may send the pair down with initial target at 0.8204 support followed by 0.8187.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8216, with support below at 0.8204, 0.8187 and 0.8175, with resistance above 0.8233, 0.8245, and 0.8262. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8224 and the daily 20EMA bearish at 0.8239. Hourly RSI is bullish at 61.