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EUR/GBP cherishes the dream of 0.80б but slides down

FXStreet (Moscow) - EUR/GBP opened the day at 0.7990, slid to 0.7975, and is drifting there at the moment.

No news is good news

EUR/GBP neared 0.80 area on Friday, as the market was happy the Russian-Ukrainian tension is not escalating. In current situation no news is good news for the euro, and, consequently for the cross. There are no significant economic releases scheduled for today out of the EMU and UK, thus, the pair may try to show further recovery, provided there is no bad news from geopolitical arena. The upside may be limited by 0.8018, and the downside – by 0.7952.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7976, with support below at 0.7952, 0.7910 and 0.7886 with resistance above at 0.8018, 0.8042, and 0.8084. Hourly Moving Averages are mostly bullish, with the 200SMA at 0.7936 and the daily 20EMA flat at 0.7943. Hourly RSI is bullish at 63.

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