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17 Mar 2014
EUR/GBP drifts down to bounce back
FXStreet (Moscow) - EUR/GBP started the day at 0.8361 and made shy steps down to 0.8351 session low where it is still trading now.
Euro is on demand
It looks like 0.8360/50 became a minor support for the moment, and may trigger a rebound if it is not broken. Although the attempt to break above 0.8380 resistance area failed on Friday, new attacks at the barrier are not ruled out. The resistance remains intact from the middle of December, 2013, thus the move higher will be not an easy task. Nevertheless, the single currency shows surprising resilience despite the risk aversive moods, and Draghi’s comments, which means that institutional interest may help the pair move higher with initial target at 0.8382 resistance level. The downside is limited by 0.8334 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8358 with support below at 0.8334, 0.8310 and 0.8286, with resistance above at 0.8382, 0.8406, and 0.8430. Hourly Moving Averages are largely flat, with the 200SMA at 0.8308 and the daily 20EMA bullish at 0.8289. Hourly RSI is neutral at 47.
Euro is on demand
It looks like 0.8360/50 became a minor support for the moment, and may trigger a rebound if it is not broken. Although the attempt to break above 0.8380 resistance area failed on Friday, new attacks at the barrier are not ruled out. The resistance remains intact from the middle of December, 2013, thus the move higher will be not an easy task. Nevertheless, the single currency shows surprising resilience despite the risk aversive moods, and Draghi’s comments, which means that institutional interest may help the pair move higher with initial target at 0.8382 resistance level. The downside is limited by 0.8334 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8358 with support below at 0.8334, 0.8310 and 0.8286, with resistance above at 0.8382, 0.8406, and 0.8430. Hourly Moving Averages are largely flat, with the 200SMA at 0.8308 and the daily 20EMA bullish at 0.8289. Hourly RSI is neutral at 47.