26 May 2014
EUR/GBP is sidelined early in Europe; new triggers are wanted
FXStreet (Moscow) - EUR/GBP has stuck below the key resistance of 0.8100 after a brief dip to 0.8084 early in Asia
EUR/GBP rests around 0.81
The pair is stubbornly trading below 0.81 area, and although it paused for some time close to the mentioned area, the move down is still not ruled out at this stage. The market keeps pricing in the ECB easing, while the expectations of sooner that forecasted tightening from the BOE are gradually growing with every new strong report out of the UK. Besides, the recent MPC minutes gave some hints on a bit more aggressive stance of the regulator. Thus, the downtrend may be still on the agenda for the pair with support level at 0.8086 to note.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8094 with support below at 0.8083, 0.8068 and 0.8057, with resistance above at 0.8109, 0.8129, and 0.8135. Hourly Moving Averages are bearish, with the 200SMA at 0.8135 and the daily 20EMA bearish at 0.8163. Hourly RSI is neutral at 42.
EUR/GBP rests around 0.81
The pair is stubbornly trading below 0.81 area, and although it paused for some time close to the mentioned area, the move down is still not ruled out at this stage. The market keeps pricing in the ECB easing, while the expectations of sooner that forecasted tightening from the BOE are gradually growing with every new strong report out of the UK. Besides, the recent MPC minutes gave some hints on a bit more aggressive stance of the regulator. Thus, the downtrend may be still on the agenda for the pair with support level at 0.8086 to note.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8094 with support below at 0.8083, 0.8068 and 0.8057, with resistance above at 0.8109, 0.8129, and 0.8135. Hourly Moving Averages are bearish, with the 200SMA at 0.8135 and the daily 20EMA bearish at 0.8163. Hourly RSI is neutral at 42.