9 Jun 2014
EUR/GBP is crawling closer to 0.81
FXStreet (Moscow) - EUR/GBP started the day at 0.8116, and spent the Asian trades in coma showing no more than 10-pip move; it now slid to 0.8111.
The reason to come back
The pair has stabilized above 0.81 area, even though the policy divergence between the ECB and the BOE is becoming more apparent every coming day. Monday promises to be very boring given the absence of European data and holidays in some countries. Thus, the pair may show some lazy consolidation within narrow ranges. However, the scheduled for release this week UK data may give the pair another reason to come back to recent lows. For now the support at 0.8103 may become a serious barrier on the way lower.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8117, with support below at 0.8103, 0.8086 and 0. 8072, with resistance above 0.8134, 0.8148, and 0.8165. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8127 and the daily 20EMA bearish at 0.8139. Hourly RSI is bearish at 48.
The reason to come back
The pair has stabilized above 0.81 area, even though the policy divergence between the ECB and the BOE is becoming more apparent every coming day. Monday promises to be very boring given the absence of European data and holidays in some countries. Thus, the pair may show some lazy consolidation within narrow ranges. However, the scheduled for release this week UK data may give the pair another reason to come back to recent lows. For now the support at 0.8103 may become a serious barrier on the way lower.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8117, with support below at 0.8103, 0.8086 and 0. 8072, with resistance above 0.8134, 0.8148, and 0.8165. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8127 and the daily 20EMA bearish at 0.8139. Hourly RSI is bearish at 48.