EUR/GBP used the European data as the opportunity to rise

By FXstreet.com | Updated July 31, 2014 AAA

FXStreet (Moscow) - EUR/GBP opened the day at 0.7919, slid to 0.7913 low, but rushed up reaching 0.7937 high on economic data.



Just lie and don’t move



The pair took the just released British and German data as the key for the moves, as the Nationwide disappointed the market with slower than expected housing price rise in the UK, and Germany confirmed strong stance of the labor market reducing the number of unemployed by 12K instead of 5K expected. Both factors played in favor of the pair rise, and it used the opportunity to come above to initial resistance are at 0.7930 with next target at 0.7942.



What are today’s key EUR/GBP levels?



Today's central pivot point can be found at 0.7917, with support below at 0.7912, 0.7902 and 0.7897 with resistance above at 0.7927, 0.7932, and 0.7942. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.7913 and the daily 20EMA bearish at 0.7933. Hourly RSI is bearish at 47.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Euro Flounders at Yearly Lows as Likelihood of ECB QE Increases

  2. Forex News

    EUR/GBP hovers around 20-day SMA

  3. Forex News

    EUR/GBP recovers from 2-week low

  4. Forex News

    EUR/GBP Technical Analysis: Short Position Now in Play

  5. Forex News

    EUR/GBP drops further below 0.7860

Trading Center