EUR/GBP got the opportunity to rise again

By FXstreet.com | August 06, 2014 AAA

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.



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