13 May 2014
EUR/GBP rebounded to 0.8170 on pound weakness
FXStreet (Moscow) - EUR/GBP started the day at 0.8155, slid to 0.8148, and rebounded to 0.8173.
Downtrend and ZEW data
Yesterday, the downtrend of the pair was confirmed with prices reaching yearly lows at 0.8143. And despite the current correction up above 0,8170, the move lower may resume soon, if scheduled for today ZEW data comes out below expectations. German data has recently disappointed the market with lower PMI levels, and impressive slump of export activity. Another negative surprise may only support the view that the ECB will take action in June, and help the pair reach 0.8129 initially.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8156, with support below at 0.8142, 0.8129 and 0.8115, with resistance above 0.8169, 0.8183, and 0.8196. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8199 and the daily 20EMA bearish at 0.8214. Hourly RSI is bearish at 41.
Downtrend and ZEW data
Yesterday, the downtrend of the pair was confirmed with prices reaching yearly lows at 0.8143. And despite the current correction up above 0,8170, the move lower may resume soon, if scheduled for today ZEW data comes out below expectations. German data has recently disappointed the market with lower PMI levels, and impressive slump of export activity. Another negative surprise may only support the view that the ECB will take action in June, and help the pair reach 0.8129 initially.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8156, with support below at 0.8142, 0.8129 and 0.8115, with resistance above 0.8169, 0.8183, and 0.8196. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8199 and the daily 20EMA bearish at 0.8214. Hourly RSI is bearish at 41.