21 Jan 2014
EUR/GBP is still close to 0.8240
FXstreet.com (Moscow) - EUR/GBP still stuck around 0.8240 area, where is consolidating at the moment.
EUR/GBP rise has short-term nature
The pair shows mild rebound from strong support level at 0.8240, though the potential of further rise is still under question. The scheduled for Tuesday and Wednesday data may become the catalysts of further moves. Today’s German ZEW data may help the euro to continue the recovery with initial target at 0.8267 resistance level. Nevertheless, the Wednesday’s UK labor data may help GBP to resume the rally, provided unemployment rate drops 0.2 points to 7.2% coming closely to the BOE target at 7.0%. Thus, even if the pair manages to get back to 0.8267 level, the rise may be short-term.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8250 with support below at 0.8235 (S1), 0.8218 (S2) and 0.8203 (S3), with resistance above at 0.8267(R1), 0.8282 (R2), and 0.8299 (R3). Hourly Moving Averages are bearish, with the 200SMA at 0.8291 and the daily 20EMA bearish at 0.8308. Hourly RSI is neutral at 42.
EUR/GBP rise has short-term nature
The pair shows mild rebound from strong support level at 0.8240, though the potential of further rise is still under question. The scheduled for Tuesday and Wednesday data may become the catalysts of further moves. Today’s German ZEW data may help the euro to continue the recovery with initial target at 0.8267 resistance level. Nevertheless, the Wednesday’s UK labor data may help GBP to resume the rally, provided unemployment rate drops 0.2 points to 7.2% coming closely to the BOE target at 7.0%. Thus, even if the pair manages to get back to 0.8267 level, the rise may be short-term.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8250 with support below at 0.8235 (S1), 0.8218 (S2) and 0.8203 (S3), with resistance above at 0.8267(R1), 0.8282 (R2), and 0.8299 (R3). Hourly Moving Averages are bearish, with the 200SMA at 0.8291 and the daily 20EMA bearish at 0.8308. Hourly RSI is neutral at 42.