Hourly chart: The pair is still in a downtrend but the last target price was not reached, add this to the fact that we saw a bounce on the chart this morning and we might see some weakness from the GBP relative to the EUR in the short term. This means a climb to 0,8278 and later to 0,83 above the 200 moving average.
Support is at 0,8240 and the selling should continue if the exchange rate falls below that.
The data release today might have a big effect on the EURGBP, so watch yur step.
Marketprog Ltd. excludes any liability for any damages resulting from the use of data and information representing the published content or the company website. Analytical reports, evaluations and selections available on the website and as published content are exclusively for informational purposes; they cannot and shall not be considered to represent investment advice or analysis from Marketprog Ltd. or a public offer. Neither shall the content of the website or otherwise published content be considered a call encouraging investment in products researched by the Software embedded in the website or in any published content. All liability and risk in connection with making any investment decision shall be borne by the user irrespective of how the use of the Software embedded in the website, or any published content might have influenced such decision.
Recommended Content
Editors’ Picks
USD/JPY holds positive ground around 151.50 following Japanese CPI data
The USD/JPY pair holds positive ground for the second consecutive day near 151.45 on Friday during the early Asian trading hours. The cautious approach from the Bank of Japan to keep monetary conditions accommodative exerts some selling pressure on the Japanese Yen.
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Top 3 Price Prediction BTC, ETH, XRP: Retail watches from the sidelines with a bias for shorts
Bitcoin is showing strength as markets head into the Easter holidays. As it rises, altcoins are following suit, with Ethereum and Ripple posting almost similar gains. Meanwhile, there remains an unfilled CME Gap, with a lot of liquidity also resting above and below BTC price.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.