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EUR/GBP moving away from 0.7800

FXStreet (Moscow) - EUR/GBP  started the day at 0.7815 and climbed towards 0.7839; currently the cross is trading at 0.7839 after having touched 0.7821 ahead of European opening.

The cross has been trading above 0.7800 since its failed attempt to break below the above said pivot on Monday. UK Industrial Production report was a non-even. It did little to support GBP bulls. The cross may find itself between the rock and the hard place today as both the BOE and the ECB announce their monetary policy decisions. A bout of volatility may do a lot of damage technical damage to the cross. A sustained break below 0.7800 would open the way to October low at 0.7766 and then to 0.7720/00. On the upside the initial resistance comes at 0.7863 (weekly high) and then at 0.7900.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7829 with support below at 0.7792, 0.7772, and 0.7735, with resistance above at 0.7849, 0.7886, and 0.7906. Hourly Moving Averages are mixed, with the 200SMA bearish at 0.7866 and the daily 20EMA bearish at 0.7858. Hourly RSI is bullish at 59.

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