FXStreet (Moscow) - EUR/GBP opened the day at 0.7978, slid to 0.7971, and is trading somewhere around at the moment.



Game changer



While the euro is not too strong at the moment, the pound is even weaker, and while the euro zone data points to gradual pace of recovery, the British reports showed several disappointments in a row. This week may become a game-changer as Draghi may sound less optimistic due to growing tension with Russia, and UK PMIs and Industrial Production may revive the interest to the pound again. In an hour we will get British Construction PMI that may become the first trigger helping the sterling to recover. In this case the initial target to the downside may be at 0.7943.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7964, with support below at 0.7943, 0.7902 and 0.7881 with resistance above at 0.8005, 0.8026, and 0.8067. Hourly Moving Averages are largely bullish, with the 200SMA bullish at 0.7920 and the daily 20EMA flat at 0.7937. Hourly RSI is bullish at 69.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/GBP: The full load down on Greece and price action

  2. Forex News

    EUR/GBP technical conditions around Greece - CB

  3. Forex News

    EUR/GBP shoots to 0.7130 on Tsipras bailout

  4. Forex News

    SEB: EUR/GBP requires a move above 0.7126 to see further buying – eFXnews

  5. Forex News

    EUR/GBP recovers to 0.7083 on UK PMI

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!