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24 Feb 2014
EUR/GBP is still vulnerable for losses
FXStreet (Moscow) - EUR/GBP opened the week at 0.8258, and just managed to reach high 0.8285, retracing back to 0.8270 at the moment.
European price pressure is of interest
The pair got the inspiration from surprisingly weak UK retail sales. Nevertheless, the move was limited by 0.8260/70 resistance area, and the chances for another reversal are quite high, especially if scheduled for released today EMU data disappoint. Inflation numbers are very important for the ECB to decide whether the economy needs additional stimulus right now. The slowing price pressure may give an impulse to retrace to 0.8245 support level followed by 0.8226.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8245 with support below at 0.8226, 0.8195 and 0.8176, with resistance above at 0.8276, 0.8295, and 0.8326. Hourly Moving Averages are bullish, with the 200SMA flat at 0.8225 and the daily 20EMA flat at 0.8252. Hourly RSI is neutral at 56.
European price pressure is of interest
The pair got the inspiration from surprisingly weak UK retail sales. Nevertheless, the move was limited by 0.8260/70 resistance area, and the chances for another reversal are quite high, especially if scheduled for released today EMU data disappoint. Inflation numbers are very important for the ECB to decide whether the economy needs additional stimulus right now. The slowing price pressure may give an impulse to retrace to 0.8245 support level followed by 0.8226.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8245 with support below at 0.8226, 0.8195 and 0.8176, with resistance above at 0.8276, 0.8295, and 0.8326. Hourly Moving Averages are bullish, with the 200SMA flat at 0.8225 and the daily 20EMA flat at 0.8252. Hourly RSI is neutral at 56.