10 Feb 2014
EUR/GBP resumes the rally targeting 0.8357
FXStreet (Moscow) - EUR/GBP was sleeping around 0.83 during Asia, but rushed up on the European open reaching 0.8319 high by the moment.
EUR/GBP may get fuel from the pound weakness
The pair is still on its way higher, and the series of higher lows may be a good sign of further uptrend. The economic calendar for today is barren, but the pound may come under pressure due to looming Quarterly Inflation Report from the BOE scheduled on Wednesday. The possibility of the regulator abandoning the tie to unemployment rate may kill the hopes for earlier tightening, and send the pound down. In this case the initial target may be at 0.8357 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8309 with support below at 0.8285, 0.8261 and 0.8237, with resistance above at 0.8333, 0.8357, and 0.8381. Hourly Moving Averages are mixed, with the 200SMA at 0.8268 and the daily 20EMA bullish at 0.8279. Hourly RSI is neutral at 45.
EUR/GBP may get fuel from the pound weakness
The pair is still on its way higher, and the series of higher lows may be a good sign of further uptrend. The economic calendar for today is barren, but the pound may come under pressure due to looming Quarterly Inflation Report from the BOE scheduled on Wednesday. The possibility of the regulator abandoning the tie to unemployment rate may kill the hopes for earlier tightening, and send the pound down. In this case the initial target may be at 0.8357 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8309 with support below at 0.8285, 0.8261 and 0.8237, with resistance above at 0.8333, 0.8357, and 0.8381. Hourly Moving Averages are mixed, with the 200SMA at 0.8268 and the daily 20EMA bullish at 0.8279. Hourly RSI is neutral at 45.