Black Pipper

Forex Dreamers

EUR/GBP expands recovery to 0.8330

The renewed selling pressure against the British pound helps EUR/GBP expand the recovery above the 0.8300 level. he euro got off to a positive start in the new trading week, as fears surrounding the Chinese virus COVID-19 have subsided and the mood of investors has improved.

UK PM Johnson spokesman recently said that nothing special is expected in negotiations with the EU, and this has undermined optimism about a trade agreement. From the economic calendar, we are expecting British labor market data on Tuesday, January inflation on Wednesday, retail sales on Thursday and the PMI service on Friday. From the Eurozone there will be the publication of the ECB minutes of the meeting on Thursday and the Eurozone PMIs will be added on Friday.

Also read  EUR/GBP: Rebound from the 0.890 0.200 EMA/50% fibo

Technical levels

The pair’s daily gain is currently 0.34% at 0.8329 and the next resistances are 0.8433 (21-day SMA), 0.8471 (55-day SMA) and 0.8537 (monthly high on February 4) ). On the other hand, supports are at 0.8295 (2020 low February 13), 0.8275 (2019 low December 13) and 0.8248 (monthly low July 2016).


3 thoughts on “EUR/GBP expands recovery to 0.8330

  1. Thanks so much for providing individuals with an extremely splendid chance to check tips from this site. It is often so fantastic and full of a great time for me and my office mates to search the blog a minimum of 3 times per week to read through the fresh secrets you have got. And definitely, I’m also actually satisfied with the very good thoughts you serve. Selected 2 ideas on this page are definitely the most beneficial we have ever had.

  2. It’s a shame you don’t have a donate button! I’d certainly donate to this outstanding blog! I guess for now i’ll settle for book-marking and adding your RSS feed to my Google account. I look forward to fresh updates and will share this site with my Facebook group. Chat soon!

Leave a Reply

Your email address will not be published. Required fields are marked *