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5 Jun 2014
EUR/GBP is around 3-day lows…waiting
FXStreet (Moscow) - EUR/GBP started the day at 0.8123, slid to 0.8118 session low, and rebounded a bit at the moment.
Battle of the Europeans
And again another battle of the Europeans is in store. Since the key event is the ECB rate decision and the following Draghi press conference, the market will be all eyes and ears. Any hints on additional easing beyond the current meeting may put the pair under pressure, and revive the new wave of selling with initial target at 0.8098 support level. The divergence in monetary policy courses of the two European regulators will be the key for the pair direction.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8131, with support below at 0.8112, 0.8098 and 0.8079, with resistance above 0.8145, 0.8164, and 0.8178. Hourly Moving Averages are mixed, with the 200SMA at 0.8123 and the daily 20EMA flat at 0.8143. Hourly RSI is bearish at 42.
Battle of the Europeans
And again another battle of the Europeans is in store. Since the key event is the ECB rate decision and the following Draghi press conference, the market will be all eyes and ears. Any hints on additional easing beyond the current meeting may put the pair under pressure, and revive the new wave of selling with initial target at 0.8098 support level. The divergence in monetary policy courses of the two European regulators will be the key for the pair direction.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8131, with support below at 0.8112, 0.8098 and 0.8079, with resistance above 0.8145, 0.8164, and 0.8178. Hourly Moving Averages are mixed, with the 200SMA at 0.8123 and the daily 20EMA flat at 0.8143. Hourly RSI is bearish at 42.