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EUR/GBP stuck in 10-pip range

FXStreet (Moscow) - EUR/GBP opened the day at 0.7868, slid to 0.7859 low in Asia, and rebounded to current 0.7870.

Recent lows in view

The cross has been quite volatile recently, as both European currencies have too many reasons to move. Although, the pound had to give up practically all of last Thursday’s gains, the euro positions are not that stable either. Looming Draghi’s speech may put the single currency under pressure even before the event, as it reminds the market of the failure with the first TLTRO auction. In this case the cross may try to go back to recent lows with 0.7829 support in view.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7857 with support below at 0.7829, 0.7782 and 0.7754, with resistance above at 0.7904, 0.7932, and 0.7979. Hourly Moving Averages are bearish, with the 200SMA at 0.7945 and the daily 20EMA bearish at 0.7947. Hourly RSI is bullish at 50.

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