16 Jun 2014
EUR/GBP already forgot about 0.80
FXStreet (Moscow) - EUR/GBP started the day at 0.7975, slid to 0.7958 at European open, and is trading around 0.7960 area at the moment.
Plenty of data
The pair finally broke below 0.80 support, and it had plenty of reasons to do it. Despite the prolonged downward move of the cross, the further slide is not ruled out given so many important events in store for the week ahead. Today the market may focus its attention on May CPI data, and any new confirmations of lower price pressure in the euro zone may help the pair move down with initial target at 0.7949 support level. The recent slump of the euro under the pressure of negative European stocks opening only supported the move lower.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7987, with support below at 0.7966, 0.7949 and 0.7928 with resistance above at 0.8004, 0.8025, and 0.8042. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8082 and the daily 20EMA bearish at 0.8099. Hourly RSI is bearish at 28.
Plenty of data
The pair finally broke below 0.80 support, and it had plenty of reasons to do it. Despite the prolonged downward move of the cross, the further slide is not ruled out given so many important events in store for the week ahead. Today the market may focus its attention on May CPI data, and any new confirmations of lower price pressure in the euro zone may help the pair move down with initial target at 0.7949 support level. The recent slump of the euro under the pressure of negative European stocks opening only supported the move lower.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7987, with support below at 0.7966, 0.7949 and 0.7928 with resistance above at 0.8004, 0.8025, and 0.8042. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8082 and the daily 20EMA bearish at 0.8099. Hourly RSI is bearish at 28.