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Aug 19, 2014
EUR/GBP is below 0.80, but looks back too often
FXStreet (Moscow) - EUR/GBP opened at 0.7988, consolidated a bit, and is edging higher at the moment on the euro rebound.
What Carney’s comment meant?
The cross is still hesitating just below 0.80 area, as the recent Carney comments took the market by surprise. The investors still cannot believe their ears and prefer to wait for the MPC minutes in order to see if there is any divergence in views. The BOE chairman could give rather aggressive comments in order to prepare the market for more surprises, and if the surprises are positive enough, we may see the decisive move lower with initial target at 0.7963.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7996, with support below at 0.7976, 0.7963 and 0.7943 with resistance above at 0.8009, 0.8029, and 0.8042. Hourly Moving Averages are largely bearish, with the 200SMA bullish at 0.7980 and the daily 20EMA bullish at 0.7967. Hourly RSI is bearish at 43.
What Carney’s comment meant?
The cross is still hesitating just below 0.80 area, as the recent Carney comments took the market by surprise. The investors still cannot believe their ears and prefer to wait for the MPC minutes in order to see if there is any divergence in views. The BOE chairman could give rather aggressive comments in order to prepare the market for more surprises, and if the surprises are positive enough, we may see the decisive move lower with initial target at 0.7963.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.7996, with support below at 0.7976, 0.7963 and 0.7943 with resistance above at 0.8009, 0.8029, and 0.8042. Hourly Moving Averages are largely bearish, with the 200SMA bullish at 0.7980 and the daily 20EMA bullish at 0.7967. Hourly RSI is bearish at 43.