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12 Mar 2014
EUR/GBP is dozing at 0.8330, looking for direction
FXStreet (Moscow) - EUR/GBP started the day at 0.8342 and drifted down to 0.8329 session low, though rebounding a bit by the moment.
Some more disappointments required
EUR/GBP is treading water around 0.8330/40 area looking for some new catalysts to go on rising. The pair still sits around 2.5-month highs, as the pound positions were rattled by the recent disappointments on fundamental front, and negative M&A flows. The scheduled for today UK trade balance data may become the last straw that will break the 0.8340 resistance paving the way up to 0.8365 level. At that point we only need the negative numbers to trigger the stops above, and fuel the move higher.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8336 with support below at 0.8324, 0.8307 and 0.8295, with resistance above at 0.8353, 0.8365, and 0.8382. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8265 and the daily 20EMA bullish at 0.8265. Hourly RSI is neutral at 49.
Some more disappointments required
EUR/GBP is treading water around 0.8330/40 area looking for some new catalysts to go on rising. The pair still sits around 2.5-month highs, as the pound positions were rattled by the recent disappointments on fundamental front, and negative M&A flows. The scheduled for today UK trade balance data may become the last straw that will break the 0.8340 resistance paving the way up to 0.8365 level. At that point we only need the negative numbers to trigger the stops above, and fuel the move higher.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8336 with support below at 0.8324, 0.8307 and 0.8295, with resistance above at 0.8353, 0.8365, and 0.8382. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8265 and the daily 20EMA bullish at 0.8265. Hourly RSI is neutral at 49.