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EUR/GBP settled below 0.7950, and ready to dive

FXStreet (Moscow) - EUR/GBP opened the day at 0.7949, paused a bit, and started to slide down on the pound strength reaching 0.7944 by the moment.

0.79 area looming

EUR/GBP broke below 0.7950 yesterday, and may continue the weaken today, as the EMU data keeps to pointing to the slowing economy, and the UK data hasn’t completely disappointed by the recent reports. The released today UK employment figures are in focus, and should be really strong to bring back the hope for strong British recovery, and to bring the pair back to 0.79 area. The traders have probably started to price-in positive outcome of the UK report at the moment, as the pair edges down on empty economic calendar. The next area of support may lie at 0.7937.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7959, with support below at 0.7937, 0.7920 and 0.7898 with resistance above at 0.7976, 0.7998, and 0.8015. Hourly Moving Averages are bearish, with the 200SMA at 0.7954 and the daily 20EMA flat at 0.7947. Hourly RSI is bearish at 37.

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