EUR/GBP stuck in 0.79 gate

By FXstreet.com | Updated July 29, 2014 AAA

FXStreet (Moscow) - EUR/GBP opened the day at 0.7912, and shyly edged higher adding several pips.



Make or break point



The key 0.79 area is a ‘make or break’ point for the pair, as the market has not decided yet where to move next. The lack of economic data only complicates the task, and even scheduled for release today British mortgage data may be not a strong enough driver to change the environment. The upside for the cross may be limited by 0.7920 resistance, and the downside – by the 0.7905 support.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7912, with support below at 0.7905, 0.7897 and 0.7890 with resistance above at 0.7920, 0.7927, and 0.7935. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.7910 and the daily 20EMA bearish at 0.7936. Hourly RSI is bullish at 56.



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