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EUR/GBP attacking 0.7880 support

FXStreet (Moscow) - EUR/GBP opened the day at 0.7886, and spent the rest of the time testing the nearest support around 0.7880 area.

The cross took yesterday’s pound weakness as an opportunity to come back above 0.79. However, the momentum soon faded away, and the pair had to go back below the round level, as the market expects the key UK report of the week. GDP data may either confirm, or kill any hopes for the pound recovery, thus defining the cross direction for the nearest days. If readings come out below expectations, the pair may try to break above the nearest resistance level located at 0.7915.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7892 with support below at 0.7877, 0.7844, and 0.7819, with resistance above at 0.7915, 0.7940, and 0.7963. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.7931 and the daily 20EMA flat at 0.7900. Hourly RSI is bullish at 49.

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