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Forex pairs in this Article » EUR/GBP (Barcelona) - Having ranged overnight, posting a low at 0.8284, EUR/GBP has jumped into the European session off the back of GBP weakness,

EUR/GBP climbs off GBP selling

Real Money sellers have been attributed to the weakening of GBP this morning which has seen EUR/GBP climb to post a high at 0.8317, alongside a drop in cable too. Only peripheral European data is on the agenda today, so fundamental drivers will have to wait until tomorrow, starting with UK CPI in the first half of the week. Applying a Fibonacci retracement from the July 27 2012 Low at 0.7752 to the Jan 3 2013 High on a weekly chart, we can see spot finding support at the 50% retracement mark at 0.8285.

What are today´s key EUR/GBP levels?

Hourly RSI sits at 68, dipping out of overbought territory with ADX at 34. The daily pivot point can be seen at 0.8284, which is also the 50% Fibonacci Retracement from the 2012-13 Low to High. support below can be seen at 0.8259 (S1), 0.8228 (S2), 0.8200-03 (Psychological - S3). Resistance above sits at 0.8315 (R1), 0.8340 (R2, & 0.8371 (R3)
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