Filed Under:
Forex pairs in this Article » EUR/USD, GBP/USD, EUR/GBP (Moscow) -
is in deep consolidation mode trading around 0.8260 area during the last hours of Asian session.

Euro has no future

The pair made an attempt to resume the slide yesterday, but the Draghi’s speech was not that pessimistic. The market made the right conclusion on the long easy cycle of the ECB, but the BOE promises us the same period of accommodation. Now it’s going to be the game of contrasts between the fundamentals of both countries. Today we will see UK Industrial Production. We don’t expect much reaction of the investors, but if the number really surprise to the upside, wait for another move down to 0.8230 support level.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.8255 with support below at 0.8230 (S1), 0.8205 (S2) and 0.8180 (S3), with resistance above at 0.8302 (R1), 0.8348 (R2), and 0.8379 (R3). Hourly Moving Averages are largely bullish, with the 200SMA bearish at 0.8301 and the daily 20EMA bearish at 0.8323. Hourly RSI is neutral at 50.
comments powered by Disqus