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19 Sep 2014
EUR/GBP rebounds from 2-year lows
FXStreet (Moscow) - EUR/GBP shows some attempts to rebound from 2-year low at 0.7808, currently nearing 0.7840 area.
New referendum to watch
Now, the era of 4-month range is over, and the pair reached more that 2-year lows around 0.7808 area. The Scottish referendum ended up with the victory of unionists, and now there are very few barriers for the pair on the way lower. The current rebound to 0.7840 area is of a corrective nature, and another weak report from the EMU, or strong one from the UK may send the pair to lows again. Now the focus of the market will be turning to the Catalan referendum in Spain, and this is potentially bearish for the euro.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7884 with support below at 0.7822, and 0.7790, with resistance above at 0.7914, 0.7946, and 0.7976. Hourly Moving Averages are bearish, with the 200SMA at 0.7960 and the daily 20EMA flat at 0.7954. Hourly RSI is bearish at 35.
New referendum to watch
Now, the era of 4-month range is over, and the pair reached more that 2-year lows around 0.7808 area. The Scottish referendum ended up with the victory of unionists, and now there are very few barriers for the pair on the way lower. The current rebound to 0.7840 area is of a corrective nature, and another weak report from the EMU, or strong one from the UK may send the pair to lows again. Now the focus of the market will be turning to the Catalan referendum in Spain, and this is potentially bearish for the euro.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7884 with support below at 0.7822, and 0.7790, with resistance above at 0.7914, 0.7946, and 0.7976. Hourly Moving Averages are bearish, with the 200SMA at 0.7960 and the daily 20EMA flat at 0.7954. Hourly RSI is bearish at 35.