EUR/GBP fails to rebound again

By FXstreet.com | August 07, 2014 AAA

FXStreet (Moscow) - EUR/GBP opened the day at 0.7940, rose to 0.7947, and is trying to retreat at the moment.



EUR/GBP will listen to Draghi



EUR/GBP lives in expectation of the ECB meeting, as almost all the key events of the week able to have a significant impact on the pair are out. Draghi’s press conference will attract the attention of investors, as the market wants to understand, weather the monetary authorities are concerned by the current developments in the EMU economy. If the chairman keeps saying they need time to see the effects from the recent additional stimulus, it may help the pair to recover again.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7934, with support below at 0.7922, 0.7902 and 0.7890 with resistance above at 0.7954, 0.7966, and 0.7986. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.7932 and the daily 20EMA flat at 0.7938. Hourly RSI is bullish at 61.



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