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26 Feb 2014
EUR/GBP may recover the losses
FXStreet (Moscow) - EUR/GBP spent the Asian morning around 0.8238 moving just a couple of pips both sides.
Two ‘Gs’ from the UK and EMU
Although the pair spends the morning in hesitation, everything may be changed in Europe. The pound still looks better bid against the euro, though the pair came closer to 0.8230 support area that may prove to be not easy to break. Today we are going to see Gfk numbers from the EMU, and GDP data from the UK. The first one has more potential to bring positive momentum to the national currency, as Monday’s IFO sentiment index already surprised to the upside. In this case the pair may recover the recent losses with initial target at 0.8261 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8242 with support below at 0.8227, 0.8208 and 0.8193, with resistance above at 0.8261, 0.8276, and 0.8295. Hourly Moving Averages are largely bearish, with the 200SMA bullish at 0.8227 and the daily 20EMA flat at 0.8250. Hourly RSI is neutral at 48.
Two ‘Gs’ from the UK and EMU
Although the pair spends the morning in hesitation, everything may be changed in Europe. The pound still looks better bid against the euro, though the pair came closer to 0.8230 support area that may prove to be not easy to break. Today we are going to see Gfk numbers from the EMU, and GDP data from the UK. The first one has more potential to bring positive momentum to the national currency, as Monday’s IFO sentiment index already surprised to the upside. In this case the pair may recover the recent losses with initial target at 0.8261 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8242 with support below at 0.8227, 0.8208 and 0.8193, with resistance above at 0.8261, 0.8276, and 0.8295. Hourly Moving Averages are largely bearish, with the 200SMA bullish at 0.8227 and the daily 20EMA flat at 0.8250. Hourly RSI is neutral at 48.