29 May 2014
EUR/GBP is not scared of heights, around 0.8140
FXStreet (Moscow) - EUR/GBP started the day at 0.8110, slid to 0.8128 session low, and rebounded to 0.8139 at the moment.
Pound weakness is a catalyst
The pair came back to weekly highs around 0.8142 on the back of pound weakness. Although the single currency got under pressure as well due to weaker than expected German data released on Wednesday, the pound was one of the worst performing currencies yesterday on the back of sliding UK gilt yields. Since there is no significant data scheduled for today out of the UK and the EMU, the main catalyst may again become the development in the credit markets. The nearest target to the downside may lie at 0.8110 support level, while 0.8151 is the next resistance to watch.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8127, with support below at 0.8110, 0.8086 and 0.8069, with resistance above 0.8151, 0.8168, and 0.8192. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8117 and the daily 20EMA bearish at 0.8151. Hourly RSI is bullish at 59.
Pound weakness is a catalyst
The pair came back to weekly highs around 0.8142 on the back of pound weakness. Although the single currency got under pressure as well due to weaker than expected German data released on Wednesday, the pound was one of the worst performing currencies yesterday on the back of sliding UK gilt yields. Since there is no significant data scheduled for today out of the UK and the EMU, the main catalyst may again become the development in the credit markets. The nearest target to the downside may lie at 0.8110 support level, while 0.8151 is the next resistance to watch.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8127, with support below at 0.8110, 0.8086 and 0.8069, with resistance above 0.8151, 0.8168, and 0.8192. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8117 and the daily 20EMA bearish at 0.8151. Hourly RSI is bullish at 59.