14 Mar 2014
EUR/GBP came back to 0.8340, and fell asleep
FXStreet (Barcelona) - EUR/GBP started the day at 0.8332 and managed to reach session high at 0.8347, though rebounding to 0.8337 at the moment.
Now we can go south
The pair is in consolidative mode spending the morning in narrow 15-pip ranges, after it showed impressive turnaround, and all thanks to Draghi’s verbal intervention. Chinese diversification flows supported the euro for some time even on the back of mixed fundamentals, but the ECB chairman put a stop to it, implying by his comments, that he is ready to step up to prevent the single currency from rising further. Fundamentally it gives the pair all the reasons to show sustainable move down with initial target at 0.8320 followed by 0.8299.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8351 with support below at 0.8320, 0.8299 and 0.8268, with resistance above at 0.8372, 0.8403, and 0.8424. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8282 and the daily 20EMA bullish at 0.8281. Hourly RSI is neutral at 43.
Now we can go south
The pair is in consolidative mode spending the morning in narrow 15-pip ranges, after it showed impressive turnaround, and all thanks to Draghi’s verbal intervention. Chinese diversification flows supported the euro for some time even on the back of mixed fundamentals, but the ECB chairman put a stop to it, implying by his comments, that he is ready to step up to prevent the single currency from rising further. Fundamentally it gives the pair all the reasons to show sustainable move down with initial target at 0.8320 followed by 0.8299.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8351 with support below at 0.8320, 0.8299 and 0.8268, with resistance above at 0.8372, 0.8403, and 0.8424. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8282 and the daily 20EMA bullish at 0.8281. Hourly RSI is neutral at 43.