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30 May 2014
EUR/GBP is on its way back to 0.81
FXStreet (Moscow) - EUR/GBP started the day at 0.8135, slid to 0.8119 session low, and rebounded to 0.8130 area at the moment.
The euro was stronger… but not for long
Yesterday it looked like the 0.81 area became the perfect platform to launch the up move again. The pair has shown five trading days of rise in a row, and could have targeted the next strong resistance at 0.8170 area. Nevertheless, the move up of the pair is not an easy task given the nearing ECB meeting that most probably bring new stimulus to the region. Any dovish comments from Draghi, and even the expectations of dovish comments from Draghi most probably will pressure the pair starting from today.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8139, with support below at 0.8124, 0.8113 and 0.80989, with resistance above 0.8150, 0.8165, and 0.8176. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8116 and the daily 20EMA neutral at 0.8150. Hourly RSI is bearish at 42.
The euro was stronger… but not for long
Yesterday it looked like the 0.81 area became the perfect platform to launch the up move again. The pair has shown five trading days of rise in a row, and could have targeted the next strong resistance at 0.8170 area. Nevertheless, the move up of the pair is not an easy task given the nearing ECB meeting that most probably bring new stimulus to the region. Any dovish comments from Draghi, and even the expectations of dovish comments from Draghi most probably will pressure the pair starting from today.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8139, with support below at 0.8124, 0.8113 and 0.80989, with resistance above 0.8150, 0.8165, and 0.8176. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8116 and the daily 20EMA neutral at 0.8150. Hourly RSI is bearish at 42.