EURGBP Forecast And Technical Overview

EURGBP Forecast And Technical Overview

• Draghi: “Further interest rate cuts remain part of the central bank’s tools”
• Germany Released ZEW Economic Sentiment Index plunged to -21.1 for the country and to -20.2 for the whole Union.
• Eurozone Core CPI came below zero. -0.1%
• UK CPI will be released today.

EURGBP is trading at 0.89140 as of writing.

UK CPI will determine the intraday direction of the pair.

On the upside Intraday Resistance:  0.8926 and 0.8941

On the Downside Intraday Support: 0.88950 and 0.88800

A better than expected UK CPI could send the pair below 0.88950 – Trendline Breakout –

This breakout can be used as a selling opportunity. Targets will be 0.88800 and 0.88200.

We will update.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURGBP: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility