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18 Mar 2014
EUR/GBP will have another attack at 0.8380
FXStreet (Moscow) - EUR/GBP started the day at 0.8367 and managed to reach 0.8376 session high in Asia trading not far from it at the moment.
Euro is too popular
The pair is again coming closer to strong 0.8380 resistance area which it failed to break through last Friday. The resistance remains intact from the middle of December, 2013, thus the move higher will be not an easy task. Nevertheless, the single currency shows surprising resilience despite the risk aversive moods, and Draghi’s comments, which means that institutional interest may help the pair move higher with initial target at 0.8384 resistance level followed by 0.84. The scheduled for today German ZEW economic sentiment may fuel the move higher, if data is better than expected.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8362 with support below at 0.8346, 0.8324 and 0.8308, with resistance above at 0.8384, 0.8400, and 0.8422. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8324 and the daily 20EMA bullish at 0.8296. Hourly RSI is neutral at 57.
Euro is too popular
The pair is again coming closer to strong 0.8380 resistance area which it failed to break through last Friday. The resistance remains intact from the middle of December, 2013, thus the move higher will be not an easy task. Nevertheless, the single currency shows surprising resilience despite the risk aversive moods, and Draghi’s comments, which means that institutional interest may help the pair move higher with initial target at 0.8384 resistance level followed by 0.84. The scheduled for today German ZEW economic sentiment may fuel the move higher, if data is better than expected.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8362 with support below at 0.8346, 0.8324 and 0.8308, with resistance above at 0.8384, 0.8400, and 0.8422. Hourly Moving Averages are largely bullish, with the 200SMA at 0.8324 and the daily 20EMA bullish at 0.8296. Hourly RSI is neutral at 57.