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.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/GBP bounced off 0.7260

  2. Forex News

    Election jitters could undermine GBP momentum – BAML

  3. Forex News

    UK services PMI tomorrow to support the outlook for UK growth – BBH

  4. Forex News

    EUR/GBP falls to 0.7260

  5. Forex News

    Sterling rally taking a breather – KBC

Trading Center