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18 Apr 2014
EUR/GBP zig zags around 0.8230
FXStreet (Moscow) - EUR/GBP opened Friday at 0.8223, and ticked higher to 0.8232 by the moment.
Easter trades
The pair made an attempt to resume the rise yesterday, however, the momentum faded by the end of the day around 0.8245 area. Given the absence of European market participants due to Easter holidays coupled with empty economic calendar, the chances to see high volatility in thin market environment are pretty high. And as the interest to the pound is on the rise again due to better than expected fundamentals, the further move down is not ruled out with initial target at 0.8210 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8230 with support below at 0.8210, 0.8196 and 0.8176, with resistance above at 0.8244, 0.8264, and 0.8278. Hourly Moving Averages are bearish, with the 200SMA at 0.8254 and the daily 20EMA bearish at 0.8272. Hourly RSI is bearish at 45.
Easter trades
The pair made an attempt to resume the rise yesterday, however, the momentum faded by the end of the day around 0.8245 area. Given the absence of European market participants due to Easter holidays coupled with empty economic calendar, the chances to see high volatility in thin market environment are pretty high. And as the interest to the pound is on the rise again due to better than expected fundamentals, the further move down is not ruled out with initial target at 0.8210 support level.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8230 with support below at 0.8210, 0.8196 and 0.8176, with resistance above at 0.8244, 0.8264, and 0.8278. Hourly Moving Averages are bearish, with the 200SMA at 0.8254 and the daily 20EMA bearish at 0.8272. Hourly RSI is bearish at 45.