EUR/GBP: bears take back control despite Brexit w/e press

Ross J Burland FXStreet

EUR/GBP is offered from highs of 0.8716 to lows of 0.8646 so far.

EUR/GBP has turned since the opening bid in Europe as the pound remained under pressure with ideas in the weekend news of a hard Brexit. However, rallies are sold on such news given the timing and such a scenario still be a long way off. Meanwhile, Draghi was speaking at EU parliament earlier and said the Eurozone recovery has less momentum while the real economy is resilient so far after Brexit vote.

EUR/GBP levels

With spot trading at 0.8673, we can see next resistance ahead at 0.8674 (Hourly 20 EMA), 0.8682 (Yesterday's High), 0.8683 (YTD High), 0.8683 (Annual High) and 0.8683 (3 Year High). Support below can be found at 0.8660 (Daily Open), 0.8659 (Monthly High), 0.8659 (Weekly High), 0.8647 (Daily Low) and 0.8635 (Daily Classic PP).

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD holds lower ground near 1.1850 ahead of EU/ US data

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1850 in European trading on Friday. A broadly cautious market environment paired with modest US Dollar demand undermines the pair ahead of the Eurozone GDP second estimate and the critical US CPI data.

GBP/USD keeps losses around 1.3600, awaits US CPI for fresh impetus

GBP/USD holds moderate losses at around 1.3600 in the European session on Friday, though it lacks bearish conviction. The US Dollar remains supported amid softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold trims intraday gains to $5,000 as US inflation data loom

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains heading into the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

US CPI data set to show modest inflation cooling as markets price in a more hawkish Fed

The US Bureau of Labor Statistics will publish January’s Consumer Price Index data on Friday, delayed by the brief and partial United States government shutdown. The report is expected to show that inflationary pressures eased modestly but also remained above the Federal Reserve’s 2% target.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.