FXStreet (Moscow) - EUR/GBP fired to 0.7946 high on worse than expected British IP data.



EUR/GBP will listen to Draghi



EUR/GBP was very slow and reserved in the morning, but everything has changed when the UK IP data confirmed the slowing growth pace in the British economy. The report showed the rise by 0.3% m/m, 1.6% y/y vs 0.6% m/m, 1.5% y/y expected. It was enough to send the pair to 0.7946 high, though the pair retreated to 0.7940 area by the moment. The next target to the upside may lie at 0.7953 resistance level.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7935 with support below at 0.7905, 0.7887 and 0.7857, with resistance above at 0.7953, 0.7983, and 0.8001. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.7931 and the daily 20EMA flat at 0.7938. Hourly RSI is bearish at 29.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/GBP shoots to 0.7130 on Tsipras bailout

  2. Forex News

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

  3. Forex News

    EUR/GBP recovers to 0.7083 on UK PMI

  4. Forex News

    EUR/GBP unperturbed near 0.7070 on PMIs

  5. Forex News

    EUR/GBP sidelines below 0.7100

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!