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Forex pairs in this Article » EUR/GBP (Barcelona) - Having ranged overnight following yesterday’s ECB meet led spike, EUR/GBP has declined into the European session to trade at 0.8357, down -0.12%, following making a low at 0.8352.

EUR/GBP led lower on improving UK House Price numbers

In the absence of any significant news this morning, and in the shadow of this afternoon’s NFP data, EUR/GBP has edged lower following better than expected UK Halifax House Price data which came in at MoM (Nov) 1.1% against forecasts of 0.6%, and YoY 7.7% against 7.2% estimates.

What are today’s key EUR/GBP levels and patterns?

Hourly RSI for the pair sits at 58, having moved lower from overbought territory overnight, and stochastics are showing a rounding formation in the oversold zone. The hourly 200 SMA sits at 0.8323 and is bullish, while the daily 20 EMA is neutral at 0.8354. Today’s central pivot point can be found at 0.8346, with support below at 0.8312 (S1), 0.8256 (S2) and 0.8222 (S3), and resistance ahead at 0.8402 (R1), 0.8436 (R2) and 0.8492 (R3). The range between 0.8355-39 offers support, with several key levels clustered today. Piercing Line, and Engulfing Bullish Candlestick patterns can be seen on the daily chart.
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