empty
 
 
14.09.2018 10:38 AM
Fundamental Analysis of EUR/GBP for September 14, 2018

EUR/GBP has been quite volatile and corrective at the edge of support area of 0.8880 from where further bullish momentum is expected in this pair. EUR has been dominating GBP for a few weeks, whereas GBP has still been weighed down by the BREXIT impact and economic reports with mixed readings.

GBP has been quite indecisive in light of mixed figures in economic reports this week. Indeed, positive GDP data and Average Earning Index were overshadowed by a decline in Manufacturing Production and an increase in Claimant Count Change. Moreover, the Bank of England left the key policy rate unchanged as expected at 0.75%. Today Bank of England's Governor Carney is going to speak about further plans regarding wrapping up the BREXIT issue in the coming weeks and about monetary policy decisions. Today's speech is expected to inject certain volatility and determine market sentiment for the nearest days.

On the other hand, EUR has been quite solid in light of the recent economic events and reports this week that is expected to lead to further gains over GBP in the process. In the context of the trade talks and tech fuel rally in European stocks, the currency has gained good momentum. Today eurozone's Trade Balance report is going to be published which is expected to decrease to 16.3B from the previous figure of 16.7B.

Meanhwile, though eurozone's economic report today is expected to reveal soft figures, any positive actual reading in the report is sure to encourage further momentum for EUR against GBP. EUR is likely to keep momentum for long.

Now let us look at the technical view. The price has rejected 0.8880 area with daily candles for several times which does indicate the presence of the bulls at the area whereas having a long-term bullish trend in place, the price is expected to push higher with target towards 0.9050 resistance area in the coming days. While being inside the rising channel and being above 0.8850 area with a daily close, the bullish bias is expected to continue.

SUPPORT: 0.8850-80

RESISTANCE: 0.9000-50

BIAS: BULLISH

MOMENTUM: VOLATILE and IMPULSIVE

This image is no longer relevant

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $9000 más!
    ¡En Mayo, sorteamos $9000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback