EUR/GBP is ready to move on UK retails

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Moscow) - EUR/GBP is back above 0.80 with the recovery of the euro, trading at 0.8010 at the moment.



The last drop



Since the EMU has nothing of interest for today, the pair may again focus on the British data with UK Retails Sales on tap. The recent BRC data confirmed lower than expected levels of consumption, and it means the chances to see worse than expected numbers today are quite high. If so, the report may become the last drop to trigger a new wave of strength of the pair. The initial target to the upside may lie at 0.8023.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7996, with support below at 0.7972, 0.7945 and 0.7921 with resistance above at 0.8023, 0.8047, and 0.8074. Hourly Moving Averages are mixed, with the 200SMA at 0.8035 and the daily 20EMA bearish at 0.8072. Hourly RSI is bearish at 49.



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