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20 Mar 2014
EUR/GBP will need to find a direction…Draghi?
FXStreet (Moscow) - EUR/GBP spent the morning in tight 10-pip range trading at 0.8360 at the moment.
The pair will wait for Draghi
The pair totally ignored the FOMC meeting as the impact on both currencies was practically equal. Nevertheless, the euro positions are still unstable given the scheduled for today Draghi speech where again the issue of price stability may be covered. If the single currency will get under pressure of verbal interventions, we may see another wave of sell-off with initial target at 0.8345 support level, which we haven’t seen from the beginning of the week. If nothing new comes from Brussels, the range-bound moves will continue.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8374 with support below at 0.8345, 0.8328 and 0.8299, with resistance above at 0.8391, 0.8420, and 0.8437. Hourly Moving Averages are mixed, with the 200SMA at 0.8354 and the daily 20EMA bullish at 0.8311. Hourly RSI is neutral at 44.
The pair will wait for Draghi
The pair totally ignored the FOMC meeting as the impact on both currencies was practically equal. Nevertheless, the euro positions are still unstable given the scheduled for today Draghi speech where again the issue of price stability may be covered. If the single currency will get under pressure of verbal interventions, we may see another wave of sell-off with initial target at 0.8345 support level, which we haven’t seen from the beginning of the week. If nothing new comes from Brussels, the range-bound moves will continue.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8374 with support below at 0.8345, 0.8328 and 0.8299, with resistance above at 0.8391, 0.8420, and 0.8437. Hourly Moving Averages are mixed, with the 200SMA at 0.8354 and the daily 20EMA bullish at 0.8311. Hourly RSI is neutral at 44.