7 Jul 2014
New lows for EUR/GBP are coming soon
FXStreet (Moscow) - EUR/GBP is edging lower in the morning starting the day at 0.7918, and sliding to 0.7914 session low in order to rebound above 0.7920 by the moment.
New lows in store
The pair is just 20-pips away from 2-year low around 0.79, and although the current week is not so thrilling on fundamental side, the possibility of going lower still exists, as the market may start to price in the split between the MPC members during the looming BOE meeting. Today’s German data only supported the view the economy is not strong enough to survive in the environment of too strong national currency, and too weak regional economies. Any new signs of breaking the Germany’s neck may support the move lower with initial target at 0.7895.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7926, with support below at 0.7914, 0.7907 and 0.7895 with resistance above at 0.7933, 0.7945, and 0.7952. Hourly Moving Averages are bearish, with the 200SMA at 0.7983 and the daily 20EMA bearish at 0.8005. Hourly RSI is bearish at 46.
New lows in store
The pair is just 20-pips away from 2-year low around 0.79, and although the current week is not so thrilling on fundamental side, the possibility of going lower still exists, as the market may start to price in the split between the MPC members during the looming BOE meeting. Today’s German data only supported the view the economy is not strong enough to survive in the environment of too strong national currency, and too weak regional economies. Any new signs of breaking the Germany’s neck may support the move lower with initial target at 0.7895.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7926, with support below at 0.7914, 0.7907 and 0.7895 with resistance above at 0.7933, 0.7945, and 0.7952. Hourly Moving Averages are bearish, with the 200SMA at 0.7983 and the daily 20EMA bearish at 0.8005. Hourly RSI is bearish at 46.