EUR/GBP shows attempts of a rebound, but may slide back again

By FXstreet.com | August 05, 2014 AAA

FXStreet (Moscow) - EUR/GBP opened the day at 0.7957, slid to 0.7954, and is trying to rebound at the moment.



Waiting for PMI



While the pound is retreating from the session highs, the cross is trying to rebound. The pair reversed the move, as yesterday’s EMU Investors’ Sentiment Index confirmed the unstable stance of the euro zone economy, and the UK Construction PMI gave a hope that recent disappointments from Britain is not a trend. The cross retreated from recent highs area around 0.7980, and is on the way to 0.7950 support waiting for new PMI data from the EMU and UK to come.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7967, with support below at 0.7950, 0.7940 and 0.7923 with resistance above at 0.7977, 0.7994, and 0.8004. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.7928 and the daily 20EMA bullish at 0.7939. Hourly RSI is bearish at 41.



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY desperate to move away from 107.00
    Forex News

    USD/JPY desperate to move away from 107.00

  2. US Dollar Technical Analysis: Readying to Resume Uptrend?
    Forex News

    US Dollar Technical Analysis: Readying to Resume Uptrend?

  3. GBP/USD goes nowhere ahead of retail sales report
    Forex News

    GBP/USD goes nowhere ahead of retail sales report

  4. EUR/JPY Technical Analysis: Former Resistance Now Support
    Forex News

    EUR/JPY Technical Analysis: Former Resistance Now Support

  5. GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen
    Forex News

    GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen

Trading Center