EUR/GBP is prepared for UK Industrial data

By FXstreet.com | July 08, 2014 AAA

FXStreet (Moscow) - EUR/GBP opened the day at 0.7943, and already showed two attempts to break below 0.7930 support area.



Positive or negative?



The pair took opportunity to rebound a little bit higher, but only in order to resume the slide soon, as the divergence in monetary stance of the two central banks is too obvious. Scheduled for release UK Industrial Data is of interest for today, as surprising developments are not ruled out. If you remember, the May Manufacturing PMI was worse than expected, but the June numbers were fantastic, thus, either positive, or negative surprises may come out. The initial target to the upside may lie at 0.7957, while the downside may be limited by 0.7901.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7935, with support below at 0.7923, 0.7901 and 0.7889 with resistance above at 0.7957, 0.7969, and 0.7991. Hourly Moving Averages are mixed, with the 200SMA at 0.7974 and the daily 20EMA bearish at 0.7999. Hourly RSI is bullish at 58.



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