25 Mar 2014
EUR/GBP is camping at 1-week high
FXStreet (Moscow) - EUR/GBP reached 1-week high at 0.8390, and camped there in Asian morning without any desire to move either direction.
Will 0.84 surrender?
The pair came closer to the 0.84 area that is still a serious barrier on its way up given the failed attempts to break above it on March, 18. PMI data from France supported the pair, but the main driver was some institutional interest to the euro seen Monday night. The single currency is the second popular reserve currency, and if somebody wants to sell dollars, it will most probably buy the euro. If it is what happens now, we may see further strengthening of the pair in medium term with initial target at 0.8406 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8374 with support below at 0.8357, 0.8325 and 0.8308, with resistance above at 0.8406, 0.8423, and 0.8455. Hourly Moving Averages are bullish, with the 200SMA at 0.8365 and the daily 20EMA bullish at 0.8326. Hourly RSI is neutral at 64.
Will 0.84 surrender?
The pair came closer to the 0.84 area that is still a serious barrier on its way up given the failed attempts to break above it on March, 18. PMI data from France supported the pair, but the main driver was some institutional interest to the euro seen Monday night. The single currency is the second popular reserve currency, and if somebody wants to sell dollars, it will most probably buy the euro. If it is what happens now, we may see further strengthening of the pair in medium term with initial target at 0.8406 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8374 with support below at 0.8357, 0.8325 and 0.8308, with resistance above at 0.8406, 0.8423, and 0.8455. Hourly Moving Averages are bullish, with the 200SMA at 0.8365 and the daily 20EMA bullish at 0.8326. Hourly RSI is neutral at 64.