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EUR/GBP - 4th time is a charm?

FXStreet (Moscow) - EUR/GBP started the day at monthly highs, reaching 0.7933, before reversing the move to current 0.7913.

Yesterday the cross made the forth attempt to break above 0.79, and again useless. However, the fith one succeeded, and the pair managed to touch monthly high at 0.7933. Scheduled for today data out of the EMU and Britain may give the pair new drivers to either support, or stop the rally. Both reports, however, are potentially bearish for the national currencies, what may bring high volatility to the cross. The upside of the pair may be initially limited by 0.7956 resistance, while immediate support is located around 0.7876 support.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7905 with support below at 0.7876, followed by 0.7825 and 0.7796, with resistance above at 0.7956, followed by 0.7985, and 0.8036. Hourly Moving Averages are largely bullish, with the 200SMA at 0.7860 and the daily 20EMA flat at 0.7873. Hourly RSI is bullish at 62.

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