FXStreet (Moscow) - EUR/GBP started the day at 0.8058, rose to 0.8064 in Asia, but soon retreated sliding to 0.8030 area at the moment.

Euro gives no choice

The pair is trading near 2.5-year lows around 0.8035 area refreshing the December, 2012 levels, and the euro weakness may stay the catalyst of new lows in the nearest term. The recently released data from France confirmed the inflation is still very low, as monthly reading came out below expectations (0.0% vs 0.1% forecasted). Wholesale prices in Germany showed negative numbers, only supporting the fears of deflation growing in the euro zone. If the pair continues the slide with EMU IP looming, the next target may become 0.8009 support.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.8066, with support below at 0.8045, 0.8030 and 0.8009 with resistance above at 0.8081, 0.8102, and 0.8117. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8109 and the daily 20EMA bearish at 0.8123. Hourly RSI is bearish at 41.

Related Articles
  1. Investing News

    China’s Forex Reserves Dropped Significantly

    China’s forex​ reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan​
  2. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  3. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  4. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  5. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  6. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  7. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  8. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  9. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  10. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.

You May Also Like

Trading Center