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EUR/GBP - UK data in focus

FXStreet (Moscow) - EUR/GBP opened the day with a gap lower at 0.7913, and since that time only managed to touch 0.7929 session high in Asia; currently it is trading at 0.7923.

The pair is trading below 0.80, but still above 0.79. However, given the looming British events during the week ahead, the situation may change significantly. The market may focus on the last MPC meeting minutes scheduled for release on Wednesday. Given the recent disappointing data out of the UK, the number of voters for the rate hike may have reduced. And if so, the cross may try to break above 0.80 again. For now, the initial target to the upside may be located at 0.7966, while the downside is supported by 0.7908.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7946 with support below at 0.7908, 0.7888 and 0.7850, with resistance above at 0.7966, 0.8004, and 0.8024. Hourly Moving Averages are largely bearish, with the 200SMA flat at 0.7920 and the daily 20EMA bullish at 0.7903. Hourly RSI is bearish at 40.

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