7 May 2014
EUR/GBP rebounded back above 0.82
FXStreet (Moscow) - EUR/GBP started the day at 0.8203, and reached 2-month low at 0.8192, recovering above 0.82 at the moment.
If only 0.82 was broken…
Despite the attempts to go above 0.8230 on Monday, the downward move resumed helped by better than expected data from the UK. Although 0.82 area is strongly defended by the buyers, and the euro is still well bid in majors, the possibility to see February lows is not ruled out. The ECB meeting will be the key catalyst for the pair, and any hints from Draghi on too “brutal” moves of the single currency will send the pair tumbling with initial target at 0.8174 support level as soon as 0.82 is broken.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8210, with support below at 0.8189, 0.8174 and 0.8153, with resistance above 0.8225, 0.8246, and 0.8261. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8222 and the daily 20EMA bearish at 0.8234. Hourly RSI is bearish at 33.
If only 0.82 was broken…
Despite the attempts to go above 0.8230 on Monday, the downward move resumed helped by better than expected data from the UK. Although 0.82 area is strongly defended by the buyers, and the euro is still well bid in majors, the possibility to see February lows is not ruled out. The ECB meeting will be the key catalyst for the pair, and any hints from Draghi on too “brutal” moves of the single currency will send the pair tumbling with initial target at 0.8174 support level as soon as 0.82 is broken.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8210, with support below at 0.8189, 0.8174 and 0.8153, with resistance above 0.8225, 0.8246, and 0.8261. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8222 and the daily 20EMA bearish at 0.8234. Hourly RSI is bearish at 33.