EUR/GBP chose to wait for the EMU data for catalysts

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - EUR/GBP opened the day at 0.7913, and hardly moved several pips during the Asian session, and adding 5 pips in the European morning.



Just lie and don’t move



When both currencies of the cross are weak, the pair has no other choice except to lie on the ground, and don’t move. The ground for now is 0.79, and there are not many catalysts able to wake up the pair immediately. The scheduled for release EMU data may be of interest in case it provides the market with new evidence of euro zone economy weakness. And in this scenario the pair may try to test the support at 0.79 again.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7916, with support below at 0.7904, 0.7894 and 0.7882 with resistance above at 0.7926, 0.7938, and 0.7948. Hourly Moving Averages are flat, with the 200SMA at 0.7912 and the daily 20EMA bearish at 0.7934. Hourly RSI is bearish at 43.



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