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EUR/GBP crawls up closer to 0.79

FXStreet (Moscow) - EUR/GBP kept climbing up during the Asian trades, reaching 0.7881 session high; however, Europe put the pair under mild pressure sending to 0.7871 session low before a rebound to current 0.7883.

Trading the Trade Data

The cross failed to break above 0.79, and for now the level may become a significant barrier on the way higher. Absence of data out of the EMU, and the release of second-tier Trade Data out of the UK may not give the pair much fuel, but still can help the market with a direction. Better than expected British readings may support the move lower with initial target at 0.7855 level followed by 0.7834.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7875 with support below at 0.7855, followed by 0.7834 and 0.7814, with resistance above at 0.7896, followed by 0.7916, and 0.7937. Hourly Moving Averages are bullish, with the 200SMA at 0.7839 and the daily 20EMA flat at 0.7869. Hourly RSI is bullish at 59.

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