27 Mar 2014
EUR/GBP is testing 0.83 support on broad pound strength
FXStreet (Moscow) - EUR/GBP is back to early March lows reaching 0.8305 by the moment from 0.8311 at the open.
And the winner is…
It looks like EUR/GBP is back in downtrend again, and it looks like this one may last for a longer period. The pair finally started to fall on fundamentally strong sterling helped by positive comments from the BoE member. The scheduled for release Retail Sales may give the additional argument to buy British currency, if it proves to be better than expected. The positive numbers will be one more evidence that the British economy is on the stable path of recovery, and may trigger another sell-off of the pair with initial target at 0.8272 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8329 with support below at 0.8292, 0.8272 and 0.8235, with resistance above at 0.8349, 0.8386, and 0.8406. Hourly Moving Averages are bearish, with the 200SMA at 0.8362 and the daily 20EMA flat at 0.8328. Hourly RSI is neutral at 25.
And the winner is…
It looks like EUR/GBP is back in downtrend again, and it looks like this one may last for a longer period. The pair finally started to fall on fundamentally strong sterling helped by positive comments from the BoE member. The scheduled for release Retail Sales may give the additional argument to buy British currency, if it proves to be better than expected. The positive numbers will be one more evidence that the British economy is on the stable path of recovery, and may trigger another sell-off of the pair with initial target at 0.8272 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8329 with support below at 0.8292, 0.8272 and 0.8235, with resistance above at 0.8349, 0.8386, and 0.8406. Hourly Moving Averages are bearish, with the 200SMA at 0.8362 and the daily 20EMA flat at 0.8328. Hourly RSI is neutral at 25.