- EUR/GBP jumps to a new cycle high at the opening of the Asia.
- The bulls are to take risks, as fundamentals deteriorate, of the book.
- Technical readings in favour of a race in the 0.90 handle, finally.
The EUR/GBP has been on the march this month and has just reached a new impulse is high, as in the cross, continues to extend, the March downside correction of the 0.8680 of the. The UK economy is in tatters, and the traders know it. “Brexit” is also a return-to-the-care-and-weigh significantly on the pound sterling.
We have seen minimal progress in the united kingdom of the european union on the trade negotiations to date, and the weekend headlines, as well as those relating to the possibility of a negative rate, we are really going to weigh on the pound for the future trading of the week:
The united KINGDOM continues to refuse the extension of the period of transition, we are moving more and more towards the November deadline for the extension of the transition period. The Markets might need to wait for the EUR/GBP move above 0.90, at this point, however, that the euro is not exactly the cleanest shirt in the laundry basket, either. During this time, the markets are on, the increase of the objectives, and the technical image of the sacrifices of the room for support, even if it is a pullback may not be out of the question before the next advanced:
UK data in focus
In the meantime, we have the second-fiddle to a “brexit” in a game later this week, with the existence of a lot of UK data on the cards. The Markets will not be so interested in the month on month data, but the year-on-year certainly considered as a candidate for a catalyst, a secondary-or “brexit” headlines. It will have to wait, however, until Friday for the year-on-year, Retail Sales (Fri) but before then, in April, the consumer Price Index to the development of this a decrease in the price of oil. Tuesday’s jobs data, you will not be able to give the full measure of COVID-19 of the impact.
By, Chart of the Day: EUR/GBP, Price Analysis, optimistic-to-0.9060, while the decline of the support to the first?the bulls are in search is 0.90-handle with 0.9060 as a target.