OctaFX | OctaFX Forex Broker
Open trading account

EUR/GBP need more fuel to reach September highs

FXStreet (Moscow) - EUR/GBP posted 0.7960 high at the Asian open, before drifting lower to current 0.7954 area.

Since the breakout above 0.79 is confirmed, the pair may target September highs located above 0.80. However, strong fundamental catalyst is needed to see significant rally of the cross. Today’s UK data may help the pair to rise, provided Average Earnings growth comes out significantly below expectations. Immediate resistance for the pair may be located at 0.7979, and followed by 0.7979.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7942 with support below at 0.7923, followed by 0.7886 and 0.7867, with resistance above at 0.7979, followed by 0.7998, and 0.8035. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.7878 and the daily 20EMA bullish at 0.7881. Hourly RSI is bullish at 59.

Norway Trade Balance declined to 21.6B in September from previous 22.4B

Read more Previous

FTSE falls ahead of the UK Employment report

The UK equity markets are trading lower today ahead of the UK employment report due at 8:30 GMT. The report comes one day after the release of the CPI data, which showed prices pressures in September weakened to 2011 lows.
Read more Next
Start livechat