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EUR/GBP is all eyes and ears before the UK data

FXStreet (Moscow) - EUR/GBP opened the day at 0.7866, but came under pressure from weak German numbers, and reached 0.7836 low in early Europe; it is trading at 0.7857.

UK data to focus on

Since we already saw disappointing economic reports out of Germany that fueled the slide of the cross, now the market is focused on the British data. The August Industrial report is interesting to see, as it could have already reflected the positive effects on the sector from recent pound weakness. The market expects strong rise by 2.6%, and if the result exceeds the mentioned level, it may help the cross to resume the slide targeting 0.78 area.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7857 with support below at 0.7840, followed by 0.7811 and 0.7794, with resistance above at 0.7886, followed by 0.7903, and 0.7932. Hourly Moving Averages are largely bullish, with the 200SMA at 0.7818 and the daily 20EMA flat at 0.7867. Hourly RSI is bullish at 56.

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