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EUR/GBP may attempt to break 0.78

FXStreet (Moscow) - EUR/GBP opened the day at 0.7814, and since that time has shown attempts to rebound reaching 0.7830 before the retreat; currently, it is trading at 0.7810.

The pair returned to the range we’ve seen in early October, as the market focused its attention on the monetary course divergence of the two European central banks, as well as stronger economic stance of the British economy. Yesterday, we have already seen better-than-expected Manufacturing PMI from the UK. Today, the UK is publishing Construction PMI report, and if the data brings positive surprises again, the cross may attempt to break below 0.78 area with the nearest target at ¬0.7779 support.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7819 with support below at 0.7799, 0.7779, and 0.7759, with resistance above at 0.7839, 0.7859, and 0.7879. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.7872 and the daily 20EMA bearish at 0.7881. Hourly RSI is bullish at 55.

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