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12 Feb 2014
EUR/GBP took a pause before a jump to 0.8325
FXStreet (Moscow) - EUR/GBP continued to slide down in the morning, though the total loss was only 8 pips, with pair trading around 0.8285 at the moment.
EUR/GBP will look at CPI and Labor forecasts
Despite the attempts to reach the nearest support level at 0.8270, there are good chances for rebound. The surprising 40-pip move lower we saw yesterday may reverse back today, if Inflation Report from the UK brings some disappointments. Besides the CPI forecasts, the investors will be interested in the forward guidance issue. If the unemployment threshold at 7.0 per cent will be lowered, wait for the mass sell-off with initial target at 0.8325 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8305 with support below at 0.8270, 0.8250 and 0.8215, with resistance above at 0.8325, 0.8360, and 0.8380. Hourly Moving Averages are bullish, with the 200SMA at 0.8284 and the daily 20EMA bullish at 0.8283. Hourly RSI is neutral at 34.
EUR/GBP will look at CPI and Labor forecasts
Despite the attempts to reach the nearest support level at 0.8270, there are good chances for rebound. The surprising 40-pip move lower we saw yesterday may reverse back today, if Inflation Report from the UK brings some disappointments. Besides the CPI forecasts, the investors will be interested in the forward guidance issue. If the unemployment threshold at 7.0 per cent will be lowered, wait for the mass sell-off with initial target at 0.8325 resistance level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8305 with support below at 0.8270, 0.8250 and 0.8215, with resistance above at 0.8325, 0.8360, and 0.8380. Hourly Moving Averages are bullish, with the 200SMA at 0.8284 and the daily 20EMA bullish at 0.8283. Hourly RSI is neutral at 34.