6 Feb 2014
EUR/GBP - Draghi is a good excuse for not moving
FXStreet (Moscow) - EUR/GBP stuck just several pips below 0.83 not showing the signs of life.
EUR/GBP will depend on Draghi’s mood
The pair is in uptrend though sometimes it looks like short-term flat. The euro has been a little bit stronger recently, supporting the shy attempts of the pair to close higher. Today the pair may get strong enough catalyst to determine its further direction. If Draghi and Co do something dovish, or sound kind of dovish, it will ruin the upside future of the pair, and trigger the slide. To the downside the support comes at 0.8264 and followed by 0.8229. The upside is limited by 0.8371 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8300 with support below at 0.8264, 0.8229 and 0.8193, with resistance above at 0.8335, 0.8371, and 0.8406. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8257 and the daily 20EMA flat at 0.8271. Hourly RSI is neutral at 51.
EUR/GBP will depend on Draghi’s mood
The pair is in uptrend though sometimes it looks like short-term flat. The euro has been a little bit stronger recently, supporting the shy attempts of the pair to close higher. Today the pair may get strong enough catalyst to determine its further direction. If Draghi and Co do something dovish, or sound kind of dovish, it will ruin the upside future of the pair, and trigger the slide. To the downside the support comes at 0.8264 and followed by 0.8229. The upside is limited by 0.8371 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8300 with support below at 0.8264, 0.8229 and 0.8193, with resistance above at 0.8335, 0.8371, and 0.8406. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8257 and the daily 20EMA flat at 0.8271. Hourly RSI is neutral at 51.