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27 Jan 2014
EUR/GBP is attacking 0.83 resistance
FXstreet.com (Moscow) - EUR/GBP managed to show 20-pips rise at the open even during quiet Asian trades showing the desire to move higher, though 0.83 resistance is still hard to break.
EUR/GBP ready to break 0.83
We saw a lot of volatility for the pair during the last week. EUR/GBP managed to take off from the 0.8170 level on last Thursday, and since then goes higher and higher reaching next strong technical barrier around 0.83. The pair may become the key transition point of volatility during European hours. Since the only first-tier data is German IFO data, the investors may use it as the catalyst for movements on the GBP-crosses. If the business climate index comes out above expectations, wait for another move higher with initial target at 0.8324 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8266 with support below at 0.8231 (S1), 0.8173 (S2) and 0.8138 (S3), with resistance above at 0.8324 (R1), 0.8359 (R2), and 0.8417 (R3). Hourly Moving Averages are bullish, with the 200SMA at 0.8262 and the daily 20EMA flat at 0.8284. Hourly RSI is neutral at 63.
EUR/GBP ready to break 0.83
We saw a lot of volatility for the pair during the last week. EUR/GBP managed to take off from the 0.8170 level on last Thursday, and since then goes higher and higher reaching next strong technical barrier around 0.83. The pair may become the key transition point of volatility during European hours. Since the only first-tier data is German IFO data, the investors may use it as the catalyst for movements on the GBP-crosses. If the business climate index comes out above expectations, wait for another move higher with initial target at 0.8324 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8266 with support below at 0.8231 (S1), 0.8173 (S2) and 0.8138 (S3), with resistance above at 0.8324 (R1), 0.8359 (R2), and 0.8417 (R3). Hourly Moving Averages are bullish, with the 200SMA at 0.8262 and the daily 20EMA flat at 0.8284. Hourly RSI is neutral at 63.