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7 Mar 2014
EUR/GBP got some help from France data
FXStreet (Moscow) - ">EUR/GBP broke above another barrier at 0.8270 yesterday, and reached more than 2-week high at 0.8292 by the moment.
Balance is ruined
The pair is on the way up, reaching another high at 0.8292 thanks to better than expected French budget data. The budget balance was -E12.7 bln vs -74.87 bln previously. Besides, the ECB decision put a finger at the euro’s scale in form of GDP forecasts revised higher. However, the pound may fight for the balance again. The truth is that there was nothing in Draghi’s speech that had changed the monetary policy expectations. The easy course may last even longer due to revised down CPI forecasts. Thus, the BOE still has one of the most aggressive monetary positions just doing nothing, and this may help the pair to show a corrective fall back in near term. The initial target is at 0.8258, and it paves the way to 0.8226 if broken.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8258 with support below at 0.8226, 0.8174 and 0.8142, with resistance above at 0.8310, 0.8342, and 0.8394. Hourly Moving Averages are bullish, with the 200SMA at 0.8233 and the daily 20EMA flat at 0.8244. Hourly RSI is neutral at 75.
Balance is ruined
The pair is on the way up, reaching another high at 0.8292 thanks to better than expected French budget data. The budget balance was -E12.7 bln vs -74.87 bln previously. Besides, the ECB decision put a finger at the euro’s scale in form of GDP forecasts revised higher. However, the pound may fight for the balance again. The truth is that there was nothing in Draghi’s speech that had changed the monetary policy expectations. The easy course may last even longer due to revised down CPI forecasts. Thus, the BOE still has one of the most aggressive monetary positions just doing nothing, and this may help the pair to show a corrective fall back in near term. The initial target is at 0.8258, and it paves the way to 0.8226 if broken.
What are today’s key EUR/GBP levels?
Today's central pivot point can be found at 0.8258 with support below at 0.8226, 0.8174 and 0.8142, with resistance above at 0.8310, 0.8342, and 0.8394. Hourly Moving Averages are bullish, with the 200SMA at 0.8233 and the daily 20EMA flat at 0.8244. Hourly RSI is neutral at 75.