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EUR/GBP crawls down to 0.80 support

FXStreet (Moscow) - EUR/GBP retreated from Asian high at 0.8025 to current 0.80.

The cross returned to the levels last seen in early September, and so far the euro looks much better than the pound based not on the fundamental reasons, but rather on its reactions to the data. While the former prefers to ignore weak EMU reports, the latter ignores even positive signals out of the British economy. It may reflect the oversold nature of the single currency, and may serve as a bullish factor for the cross for the time being. The next target to the upside may be found at 0.8063 resistance.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.8000 with support below at 0.7951, followed by 0.7888 and 0.7839, with resistance above at 0.8063, followed by 0.8112, and 0.8175. Hourly Moving Averages are mixed, with the 200SMA bullish at 0.7896 and the daily 20EMA bullish at 0.7894. Hourly RSI is bullish at 51.

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