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22 Apr 2014
EUR/GBP is shy and indecisive around 0.82
FXStreet (Moscow) - EUR/GBP opened Tuesday at 0.8212, and edges lower in European morning reaching 0.8204 session low.
GBP-positive
The pair gradually descends to new lows reaching the area not seen from March, 6. It came under pressure due to euro sell-off in the morning, and some strengthening of the pound. The positive expectation on the UK economic reading scheduled for release this week support the move. Besides, the recent rumors on GBP-positive M&A flows may only strengthen the slide lower with initial target at 0.8194. If the level is not broken, we may see a rebound with initial target at 0.8228 resistance.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8218 with support below at 0.8204, 0.8194 and 0.8180, with resistance above at 0.8228, 0.8242, and 0.8252. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8249 and the daily 20EMA bearish at 0.8263. Hourly RSI is bearish at 43.
GBP-positive
The pair gradually descends to new lows reaching the area not seen from March, 6. It came under pressure due to euro sell-off in the morning, and some strengthening of the pound. The positive expectation on the UK economic reading scheduled for release this week support the move. Besides, the recent rumors on GBP-positive M&A flows may only strengthen the slide lower with initial target at 0.8194. If the level is not broken, we may see a rebound with initial target at 0.8228 resistance.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8218 with support below at 0.8204, 0.8194 and 0.8180, with resistance above at 0.8228, 0.8242, and 0.8252. Hourly Moving Averages are largely bearish, with the 200SMA at 0.8249 and the daily 20EMA bearish at 0.8263. Hourly RSI is bearish at 43.