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.



Related Articles
  1. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  2. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  3. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  4. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  5. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  6. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  7. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  8. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  9. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
  10. Forex News

    How The Forex "Fix" May Be Rigged

    When it comes to forex, some types of "fixes" are legal. But some really aren't.
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
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!