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EUR/GBP nearing last week lows around 0.7940

FXStreet (Moscow) - EUR/GBP opened the day at 0.7963, reached session high at 0.7983 in Asia, before retreating to current 0.7955.

Staying within the range

Since there are signs the market is getting tired of the USD domination, there are chances to see both the euro and the pound rebounds. The scheduled for release economic data also supports this view, provided successful auction within the ECB TLTRO, and positive inflation and labor readings from the UK. In this case the chances to see range-bound trading are quite high, and the winner will be the one with the more positive economic outlook. So far, we see the pound is more stable when its collegue.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7964, with support below at 0.7945, 0.7921 and 0.7902 with resistance above at 0.7988, 0.8007, and 0.8031. Hourly Moving Averages are bearish, with the 200SMA at 0.7979 and the daily 20EMA flat at 0.7967. Hourly RSI is bearish at 43.

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