14 Jan 2014
EUR/GBP is quite aggressive on its move up
FXstreet.com (Moscow) - EUR/GBP is on the rise trying to refresh this year high at 0.8348, though the way up is not that easy.
Sharp turnaround for EUR/GBP
Last week the pair showed strong desire to fall convincing us that the downward move is in place. Nevertheless, this week its different, and the chances of further rise are quite high, especially if November industrial production data from euro zone surprises to the upside, and the British CPI will be below the BOE two per cent target rate. The initial move will be to 0.8366 resistance level followed by 0.8391.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8325 with support below at 0.8300 (S1), 0.8259 (S2) and 0.8234 (S3), with resistance above at 0.8366 (R1), 0.8391 (R2), and 0.8432 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.8293 and the daily 20EMA flat at 0.8322. Hourly RSI is neutral at 63.
Sharp turnaround for EUR/GBP
Last week the pair showed strong desire to fall convincing us that the downward move is in place. Nevertheless, this week its different, and the chances of further rise are quite high, especially if November industrial production data from euro zone surprises to the upside, and the British CPI will be below the BOE two per cent target rate. The initial move will be to 0.8366 resistance level followed by 0.8391.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8325 with support below at 0.8300 (S1), 0.8259 (S2) and 0.8234 (S3), with resistance above at 0.8366 (R1), 0.8391 (R2), and 0.8432 (R3). Hourly Moving Averages are largely bullish, with the 200SMA at 0.8293 and the daily 20EMA flat at 0.8322. Hourly RSI is neutral at 63.