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16 May 2014
EUR/GBP rushing to 0.8150 at snail’s pace
FXStreet (Moscow) - EUR/GBP started the day at 0.8163, and even reached 0.8170 session high during boring Asia; it shows turtle steps lower at the moment.
0.8150 is on the agenda
The pair has been quite volatile recently, still trying to find the medium term direction. During the first two weeks of May it looked like the downtrend was confirmed, and the long-term support at 0.8150 was nearly broken, but the slightly dovish comments of Mr. Carney, and revised down inflation forecasts put the barrier to the move down, and the pair may have hard time breaking below near term. Nevertheless, when fundamentals come back to the scene, the pair may resume the slide with initial target at 0.8145 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8164, with support below at 0.8145, 0.8124 and 0.8105, with resistance above 0.8185, 0.8204, and 0.8225. Hourly Moving Averages are mixed, with the 200SMA at 0.8178 and the daily 20EMA bearish at 0.8201. Hourly RSI is bearish at 48.
0.8150 is on the agenda
The pair has been quite volatile recently, still trying to find the medium term direction. During the first two weeks of May it looked like the downtrend was confirmed, and the long-term support at 0.8150 was nearly broken, but the slightly dovish comments of Mr. Carney, and revised down inflation forecasts put the barrier to the move down, and the pair may have hard time breaking below near term. Nevertheless, when fundamentals come back to the scene, the pair may resume the slide with initial target at 0.8145 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8164, with support below at 0.8145, 0.8124 and 0.8105, with resistance above 0.8185, 0.8204, and 0.8225. Hourly Moving Averages are mixed, with the 200SMA at 0.8178 and the daily 20EMA bearish at 0.8201. Hourly RSI is bearish at 48.