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EUR/GBP is flirting with 0.80 again

FXStreet (Moscow) - EUR/GBP opened at 0.7988, hit the bottom at 0.7985 and rebounded above 0.7990.

Potentially volatile day

The cross is below 0.80 again, have been flirting with this level for quite some time already. Now when the story with the minutes is over the market attention turns to the EMU PMI data followed by the UK Retail Sales. Both reports have a potential to trigger some volatility, and help the pair to determine the further direction. The euro zone countries has shown some signs of weakness recently, thus, another evidence of slowing economy may help the cross to slide again with initial target at 0.7966 support.

What are today’s key EUR/GBP levels?

Today's central pivot point can be found at 0.7993, with support below at 0.7966, 0.7943 and 0.7916 with resistance above at 0.8016, 0.8043, and 0.8066. Hourly Moving Averages are largely flat, with the 200SMA flat at 0.7993 and the daily 20EMA flat at 0.7974. Hourly RSI is bearish at 51.

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