14 May 2014
EUR/GBP refreshed the yearly lows at 0.8131
FXStreet (Moscow) - EUR/GBP started the day at 0.8142, slid to 0.8131, but ticked higher by the moment.
Downtrend may be sealed and approved
Although the euro had a desire to stop the downward movement of the pair, the attempts to break above 0.8170 didn’t succeed, and it finally refreshed the yearly lows at 0.8131 this morning. Today is a very important day for the pair’s future, as scheduled for release BOE Inflation Report will hint on the regulator’s plans about the monetary policy. The recent releases of the Report in November, and February triggered impressive rally of the pound, and this time we may see the same, if growth or inflation forecasts are revised higher. The initial target in this case is at 0.8108 support level followed by 0.8084.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8151, with support below at 0.8127, 0.8108 and 0.8084, with resistance above 0.8170, 0.8194, and 0.8213. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8190 and the daily 20EMA bearish at 0.8207. Hourly RSI is bearish at 36.
Downtrend may be sealed and approved
Although the euro had a desire to stop the downward movement of the pair, the attempts to break above 0.8170 didn’t succeed, and it finally refreshed the yearly lows at 0.8131 this morning. Today is a very important day for the pair’s future, as scheduled for release BOE Inflation Report will hint on the regulator’s plans about the monetary policy. The recent releases of the Report in November, and February triggered impressive rally of the pound, and this time we may see the same, if growth or inflation forecasts are revised higher. The initial target in this case is at 0.8108 support level followed by 0.8084.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8151, with support below at 0.8127, 0.8108 and 0.8084, with resistance above 0.8170, 0.8194, and 0.8213. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8190 and the daily 20EMA bearish at 0.8207. Hourly RSI is bearish at 36.