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15 May 2014
EUR/GBP is back above 0.8170, pausing
FXStreet (Moscow) - EUR/GBP started the day at 0.8177, and moved back and forth during Asian trades.
Downtrend is cancelled…
Downtrend for the pair may be cancelled at least for the nearest future, as the BOE disappointed the market with not as aggressive comments as the investors had expected. Nevertheless, the pair was not significantly impressed by such an ‘unusual’ behavior of the regulator, and we only saw 50-pip move up to Tuesday levels. It means the reversal could be coming as soon as the market will be disappointed by the EMU data, or excited by the UK reports. In this case the initial target may be again at 0.8130 area with 0.8105 support to follow.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8163, with support below at 0.8143, 0.8105 and 0.8085, with resistance above 0.8201, 0.8221, and 0.8259. Hourly Moving Averages are mixed, with the 200SMA at 0.8185 and the daily 20EMA bearish at 0.8205. Hourly RSI is bullish at 59.
Downtrend is cancelled…
Downtrend for the pair may be cancelled at least for the nearest future, as the BOE disappointed the market with not as aggressive comments as the investors had expected. Nevertheless, the pair was not significantly impressed by such an ‘unusual’ behavior of the regulator, and we only saw 50-pip move up to Tuesday levels. It means the reversal could be coming as soon as the market will be disappointed by the EMU data, or excited by the UK reports. In this case the initial target may be again at 0.8130 area with 0.8105 support to follow.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8163, with support below at 0.8143, 0.8105 and 0.8085, with resistance above 0.8201, 0.8221, and 0.8259. Hourly Moving Averages are mixed, with the 200SMA at 0.8185 and the daily 20EMA bearish at 0.8205. Hourly RSI is bullish at 59.