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27 Feb 2014
EUR/GBP may recover the losses
FXStreet (Moscow) - EUR/GBP is trading around the Asian lows retracing a bit from 0.8206 to 0.8213.
German data may become a barrier
The pair broke below the bottom of the weekly range 0.8215-0.8285, again proving the fundamental strength of the pound despite recent disappointments even from Q4 GDP numbers. Now it stuck at weekly lows around 0.8206 trying to show some correction. There is a potential to move further to February, 17 lows, and the pair may materialize it, if German data does not bring positive surprise today. In this case we may see a strong rebound with initial target at 0.8239 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8223 with support below at 0.8194, 0.8178 and 0.8149, with resistance above at 0.8239, 0.8268, and 0.8284. Hourly Moving Averages are largely bearish, with the 200SMA bearish at 0.8228 and the daily 20EMA flat at 0.8246. Hourly RSI is neutral at 35.
German data may become a barrier
The pair broke below the bottom of the weekly range 0.8215-0.8285, again proving the fundamental strength of the pound despite recent disappointments even from Q4 GDP numbers. Now it stuck at weekly lows around 0.8206 trying to show some correction. There is a potential to move further to February, 17 lows, and the pair may materialize it, if German data does not bring positive surprise today. In this case we may see a strong rebound with initial target at 0.8239 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8223 with support below at 0.8194, 0.8178 and 0.8149, with resistance above at 0.8239, 0.8268, and 0.8284. Hourly Moving Averages are largely bearish, with the 200SMA bearish at 0.8228 and the daily 20EMA flat at 0.8246. Hourly RSI is neutral at 35.