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17 Apr 2014
EUR/GBP stays at the doorway of 0.8230
FXStreet (Moscow) - EUR/GBP opened Thursday at 0.8224, posted 0.8214 session low, and bounced back to 0.8230 area by the moment.
Space to move down
The pair is showing the downside trend from the beginning of the week, as the fundamentals are definitely on the pound side. Recent labor readings supported the view that the British economy is on the path of sustainable recovery, while the euro zone economy is still fragile, and may need additional stimulus ahead. This factor may continue to support the interest to the pound in the medium-term. As for today, the barren economic calendar may cage the pair into narrow ranges with 0.8238 resistance level being the upper line, and the 0.8206 being the bottom.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8238 with support below at 0.8206, 0.8187 and 0.8155, with resistance above at 0.8257, 0.8289, and 0.8308. Hourly Moving Averages are bearish, with the 200SMA at 0.8259 and the daily 20EMA bearish at 0.8277. Hourly RSI is bearish at 29.
Space to move down
The pair is showing the downside trend from the beginning of the week, as the fundamentals are definitely on the pound side. Recent labor readings supported the view that the British economy is on the path of sustainable recovery, while the euro zone economy is still fragile, and may need additional stimulus ahead. This factor may continue to support the interest to the pound in the medium-term. As for today, the barren economic calendar may cage the pair into narrow ranges with 0.8238 resistance level being the upper line, and the 0.8206 being the bottom.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8238 with support below at 0.8206, 0.8187 and 0.8155, with resistance above at 0.8257, 0.8289, and 0.8308. Hourly Moving Averages are bearish, with the 200SMA at 0.8259 and the daily 20EMA bearish at 0.8277. Hourly RSI is bearish at 29.