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EUR/GBP got the chance to run higher

FXStreet (Moscow) - EUR/GBP rebounded from European low at 0.7833 to 0.7857 high on EMU and UK PMI data; it is trading at 0.7851 currently.

When all PMI’s are out

The pair was quite volatile this morning, as had to react to Services PMI reports out of the euro zone and Britain. Unfortunately, both regions printed weaker numbers, but British disappointment was more significant, as the index not only came out below expectations, but also printed 3-month low confirming the slowing pace of the UK recovery. It helped the pair come closer to Thursday highs again, and next target to the upside may lie at 0.7875 now.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7832 with support below at 0.7805, 0.7762 and 0.7735, with resistance above at 0.7875, 0.7902, and 0.7945. Hourly Moving Averages are bullish, with the 200SMA at 0.7817 and the daily 20EMA bearish at 0.7890. Hourly RSI is bullish at 66.

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