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EUR/GBP moving around 0.79, waiting for vote results

FXStreet (Moscow) - EUR/GBP opened the day at 0.7903, slid to almost 2-month low at 0.7880, in early Europe, but rebounded to current 0.7904 level.

When the bottom broken

The pair is trading around the bottom of the 4-month range, trying to get new drivers to move further. The cross will be watching to two key events tonight – the TLTRO auction, and the Scotland Independence vote. The odds are in favor of the further fall of the pair with the initial target at 0.7856 support, as the market still believes the Scotts will stay within the United Kingdom. As soon as this outcome is confirmed, we may see a surge of demand on the pound, and it may finally help the pair to break the bottom of the 4-month range, and to move lower.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7926, with support below at 0.7880, 0.7856 and 0.7810 with resistance above at 0.7950, 0.7996, and 0.8020. Hourly Moving Averages are largely bearish, with the 200SMA bearish at 0.7977 and the daily 20EMA flat at 0.7961. Hourly RSI is bearish at 39.

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