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21 Oct 2014
EUR/GBP climbs to 3-day high
FXStreet (Moscow) - EUR/GBP opened the day at 0.7916, and spent Asian trades drifting higher; European opening fueled the move helping to reach 3-day high at 0.7939.
Although the cross is showing some attempts of rebound, it is still staying closer to the 0.79 area of support, as the pound is quite strong. Most probably, the market expects unchanged stance of the MPC members with two votes in favor of the rate hike. Given the series of weaker than expected reports out of the UK even those two voters will be enough to support the sterling, and fuel the breakout below 0.79 with immediate target at 0.7889.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7918 with support below at 0.7904, 0.7889 and 0.7875, with resistance above at 0.7947, and 0.7962. Hourly Moving Averages are mixed, with the 200SMA flat at 0.7925 and the daily 20EMA flat at 0.7905. Hourly RSI is bullish at 50.
Although the cross is showing some attempts of rebound, it is still staying closer to the 0.79 area of support, as the pound is quite strong. Most probably, the market expects unchanged stance of the MPC members with two votes in favor of the rate hike. Given the series of weaker than expected reports out of the UK even those two voters will be enough to support the sterling, and fuel the breakout below 0.79 with immediate target at 0.7889.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7918 with support below at 0.7904, 0.7889 and 0.7875, with resistance above at 0.7947, and 0.7962. Hourly Moving Averages are mixed, with the 200SMA flat at 0.7925 and the daily 20EMA flat at 0.7905. Hourly RSI is bullish at 50.