EUR/GBP has strong relationships with 0.79

By FXstreet.com | July 28, 2014 AAA

FXStreet (Moscow) - EUR/GBP opened the day at 0.7910, and spent some time testing the nearest support area, trading not far away from it now.



Hard choice



Last week was quite volatile for the pair with the cross moving on both sides of 0.79 pivot point, but ending up back at 0.7910. It means the market is still in two minds on the direction, and in current circumstances it’s too hard to choose whether to go lower, or it’s time to stop, and recover a bit. This week may help the pair with a hard choice, as the EMU releases some interesting reports that may prove or disprove the evolving EMU weakness.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7917, with support below at 0.7898, 0.7887 and 0.7868 with resistance above at 0.7928, 0.7947, and 0.7958. Hourly Moving Averages are mixed, with the 200SMA flat at 0.7910 and the daily 20EMA bearish at 0.7939. Hourly RSI is bullish at 40.



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