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3 Jun 2014
EUR/GBP wanted to rise, but changed its mind
FXStreet (Moscow) - EUR/GBP started the day at 0.8117, reached 0.8124 session high, and slid back to open levels by the moment.
Just give me a reason
The pair is a good indicator of market sentiment to two European currencies. The divergence between the British economy, and economy of the EMU is painted by the current direction of the cross. Although the pair has recently rebounded to 0.8150 area, it now may resume the slide down, if only it gets some significant catalyst. Euro zone CPI may become such a trigger, provided it comes out below expectations. If so, we may see the move lower with initial target at 0.8108 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8126, with support below at 0.8108, 0.8096 and 0.8078, with resistance above 0.8138, 0.8156, and 0.8168. Hourly Moving Averages are mixed, with the 200SMA at 0.8114 and the daily 20EMA bearish at 0.8146. Hourly RSI is bearish at 47.
Just give me a reason
The pair is a good indicator of market sentiment to two European currencies. The divergence between the British economy, and economy of the EMU is painted by the current direction of the cross. Although the pair has recently rebounded to 0.8150 area, it now may resume the slide down, if only it gets some significant catalyst. Euro zone CPI may become such a trigger, provided it comes out below expectations. If so, we may see the move lower with initial target at 0.8108 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8126, with support below at 0.8108, 0.8096 and 0.8078, with resistance above 0.8138, 0.8156, and 0.8168. Hourly Moving Averages are mixed, with the 200SMA at 0.8114 and the daily 20EMA bearish at 0.8146. Hourly RSI is bearish at 47.