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19 Mar 2014
EUR/GBP will have a hard time breaking through 0.84
FXStreet (Moscow) - EUR/GBP started the day at 0.8397, where met sellers’ interest and retraced back to 0.8386 by the moment.
The reversal is highly possible
Today is the pound’s solo given the abundance of data from the UK. If labor numbers surprises to the upside with possible average earnings growth, we may see the change of mood in the pair with a high chances of reversal from 3-month high posted yesterday at 0.8399. The round number resistance at 0.84 will also play an important role from the technical perspective. Most probably the break though this level will be a tough task. Thus, we don’t rule out the move down with initial target at 0.8372 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8386 with support below at 0.8372, 0.8345 and 0.8331, with resistance above at 0.8413, 0.8427, and 0.8454. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8344 and the daily 20EMA bullish at 0.8306. Hourly RSI is neutral at 53.
The reversal is highly possible
Today is the pound’s solo given the abundance of data from the UK. If labor numbers surprises to the upside with possible average earnings growth, we may see the change of mood in the pair with a high chances of reversal from 3-month high posted yesterday at 0.8399. The round number resistance at 0.84 will also play an important role from the technical perspective. Most probably the break though this level will be a tough task. Thus, we don’t rule out the move down with initial target at 0.8372 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8386 with support below at 0.8372, 0.8345 and 0.8331, with resistance above at 0.8413, 0.8427, and 0.8454. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8344 and the daily 20EMA bullish at 0.8306. Hourly RSI is neutral at 53.