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EUR/GBP dared to test 0.78 support

FXStreet (Moscow) - EUR/GBP opened the day at 0.7809, touched 0.7816 high in session, and reversed the direction, sliding to current 0.7794 low, not seen from September, 25.

The right moment

The pair is still somewhere around 0.78 support, and is still waiting for the right moment to break below. The right moment may come today, when UK second quarter GDP is released. The growth pace is expected to rise slightly, and most probably it is already priced in by the cross. The stronger numbers are needed to see the full-blown breakout with initial target at 0.7783 support.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7814 with support below at 0.7797, 0.7783 and 0.7766, with resistance above at 0.7828, 0.7845, and 0.7859. Hourly Moving Averages are largely bearish, with the 200SMA bearish at 0.7841 and the daily 20EMA bearish at 0.7890. Hourly RSI is bullish at 43.

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