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EUR/GBP ruined; 0.7800 support in sight

FXStreet (Moscow) - EUR/GBP crashed to new multi-year low at 0.7810 in Asia, but recovered to 0.7835 so far; the cross is vulnerable to new losses as Scottish referendum results continue to pour in.

Down on Scottish NO

EUR/GBP is going with the tide. The British currency is dramatically higher across the board as markets sigh with relief with each No vote from Scottish districts. Obviously, referendum is a leitmotif of the day, that is why all GBP crosses are vulnerable to periods of high volatility each time we have a new official result. From the technical point of view, the support is seen at current Asian low of 0.7810. It is followed by 0.7800 pivot and 0.7765. The nearest resistance is at 0.7890/00. EUR/GBP is a definite sell on growth towards this area.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7884 with support below at 0.7822, and 0.7790, with resistance above at 0.7914, 0.7946, and 0.7976. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.7965 and the daily 20EMA flat at 0.7954. Hourly RSI is bearish at 30.

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