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EUR/GBP testing 0.7900/10 resistance

FXStreet (Moscow) - EUR/GBP opened the day at 0.7890, and slowly drifted higher, reaching 0.7909 in early Europe.

Yesterday, the cross managed to break below 0.79 on the euro weakness, printing weekly low at 0.7876. The pair it showing some attempts of recovery testing 0.79 resistance at the moment, although unsuccessful yet . The looming MPC minutes may become a serious risk for the pair, as there is a chance the number of “hawks” within the MPC camp may have been reduced due to weaker economic reports out of the UK. If so, the cross may resume the rise again confirming the breakout above 0.79, and going higher with initial target at 0.7933.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7918 with support below at 0.7889 and 0.7875, with resistance above at 0.7933, 0.7947, and 0.7962. Hourly Moving Averages are mixed, with the 200SMA flat at 0.7925 and the daily 20EMA flat at 0.7905. Hourly RSI is bullish at 50.

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