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7 Jan 2014
EUR/GBP is ready to resume the rise
FXstreet.com (Moscow) - EUR/GBP is consolidating around 0.8309 pivot point, having big desire to go higher, but no strength to do it.
German data may help to choose
Yesterday’s big disappointment from UK shattered the faith in GBP, thus supporting the pair’s move higher. Nevertheless, the pair cannot break out the tight 15-pips range we see from the early morning. Scheduled for release German data may be that very catalyst, that will fuel the rally higher, or slide to the support level at 0.8283.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8309 with support below at 0.8283 (S1), 0.8253 (S2) and 0.8227 (S3), with resistance above at 0.8339 (R1), 0.8365 (R2), and 0.8395 (R3). Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8329 and the daily 20EMA bearish at 0.8343. Hourly RSI is neutral at 54.
German data may help to choose
Yesterday’s big disappointment from UK shattered the faith in GBP, thus supporting the pair’s move higher. Nevertheless, the pair cannot break out the tight 15-pips range we see from the early morning. Scheduled for release German data may be that very catalyst, that will fuel the rally higher, or slide to the support level at 0.8283.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8309 with support below at 0.8283 (S1), 0.8253 (S2) and 0.8227 (S3), with resistance above at 0.8339 (R1), 0.8365 (R2), and 0.8395 (R3). Hourly Moving Averages are mixed, with the 200SMA bearish at 0.8329 and the daily 20EMA bearish at 0.8343. Hourly RSI is neutral at 54.