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11 Jun 2014
The pound pushes EUR/GBP lower
FXStreet (Moscow) - EUR/GBP started the day at 0.8083, slid to 0.8073 in Asia, tried to rebound, but fell again on pound strength
Cautious and reserved cross
The pair is very cautious in its moves, and every time it reaches new lows it rushes back scared to be too brave and ambitious. Nevertheless, lower lows during such shuttle runs may convince the market in the fact that the bottom is not here, but much lower. The released today UK data from labor market may give the pair another reason to look at 0.8060 again, provided it shows stronger than expected data.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8081, with support below at 0.8066, 0.8046 and 0.8031 with resistance above at 0.8101, 0.8116, and 0.8136. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8112 and the daily 20EMA bearish at 0.8129. Hourly RSI is bearish at 48.
Cautious and reserved cross
The pair is very cautious in its moves, and every time it reaches new lows it rushes back scared to be too brave and ambitious. Nevertheless, lower lows during such shuttle runs may convince the market in the fact that the bottom is not here, but much lower. The released today UK data from labor market may give the pair another reason to look at 0.8060 again, provided it shows stronger than expected data.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8081, with support below at 0.8066, 0.8046 and 0.8031 with resistance above at 0.8101, 0.8116, and 0.8136. Hourly Moving Averages are mostly bearish, with the 200SMA at 0.8112 and the daily 20EMA bearish at 0.8129. Hourly RSI is bearish at 48.