9 Apr 2014
EUR/GBP - is still ticking lower with 0.82 on the horizon
FXStreet (Moscow) - EUR/GBP is slightly drifting lower from 0.8235 at the open to 0.8231 at the moment.
The pair needs to be impressed
The pair moved down the lows to 0.8230 area, and may camp around for some time, as we don’t have any significant catalysts scheduled for Wednesday. UK Trade Balance is not expected to be a market-mover, as it is traditionally a second-tier data. Only impressive missing of expectations may trigger the reaction. If we don’t see anything special this time, we’ll have to wait till Thursday, when Final CPI data from the EMU is released. Another confirmation of lower price pressure will help the pair to resume the slide with initial target at 0.8204 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8249 with support below at 0.8221, 0.8204 and 0.8176, with resistance above at 0.8266, 0.8294, and 0.8311. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8270 and the daily 20EMA bearish at 0.8292. Hourly RSI is bearish at 33.
The pair needs to be impressed
The pair moved down the lows to 0.8230 area, and may camp around for some time, as we don’t have any significant catalysts scheduled for Wednesday. UK Trade Balance is not expected to be a market-mover, as it is traditionally a second-tier data. Only impressive missing of expectations may trigger the reaction. If we don’t see anything special this time, we’ll have to wait till Thursday, when Final CPI data from the EMU is released. Another confirmation of lower price pressure will help the pair to resume the slide with initial target at 0.8204 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8249 with support below at 0.8221, 0.8204 and 0.8176, with resistance above at 0.8266, 0.8294, and 0.8311. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8270 and the daily 20EMA bearish at 0.8292. Hourly RSI is bearish at 33.