6 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 0.8213 low, but got some fuel from EUR/USD and came back above 0.8220 at the moment.
Another failed attack
Although the pair showed the third attempt in a row to break above 0.8230 area, this time it has high chances to fail again as UK Services PMI on the table. Besides, the market will be very cautious before the key ECB meeting where it may hear another monologue dedicated to all kinds of easing tools the regulator has at hand. And this notion will pressure the single currency near-term, giving the pair all the opportunities to attack 0,82 support again, especially on the expectations of positive surprises from the UK.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8225, with support below at 0.8215, 0.8203 and 0.8193, with resistance above 0.8237, 0.8247, and 0.8259. Hourly Moving Averages are mixed, with the 200SMA at 0.8225 and the daily 20EMA bearish at 0.8237. Hourly RSI is bearish at 39.
Another failed attack
Although the pair showed the third attempt in a row to break above 0.8230 area, this time it has high chances to fail again as UK Services PMI on the table. Besides, the market will be very cautious before the key ECB meeting where it may hear another monologue dedicated to all kinds of easing tools the regulator has at hand. And this notion will pressure the single currency near-term, giving the pair all the opportunities to attack 0,82 support again, especially on the expectations of positive surprises from the UK.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8225, with support below at 0.8215, 0.8203 and 0.8193, with resistance above 0.8237, 0.8247, and 0.8259. Hourly Moving Averages are mixed, with the 200SMA at 0.8225 and the daily 20EMA bearish at 0.8237. Hourly RSI is bearish at 39.