The primary trend direction in EURGBP is unchanged and remains down. Yesterday’s sell-off resulted in a break of support at 0.8518, the Jun 19 low. The break confirms a resumption of the downtrend and signals scope for a continuation. Moving average studies are in bear-mode position, highlighting current trend conditions. The focus is on 0.8454, a Fibonacci retracement point. Initial firm resistance has been defined at 0.8584, the Jul 10 high.
Find more articles and bullets on these widgets:
Date | UK | Period | Event |
12-Jun | 1500 | ---- | BOE Mann at Signum Chairman Charles Myers Webinar |
13-Jun | 0700 | Apr/May | Labour Market Survey |
13-Jun | 1500 | ---- | BOE Bailey Lords Economic Affairs Committee Hearing |
13-Jun | 1600 | ---- | BOE Dhingra Speech at Manchester Metropolitan University |
14-Jun | 0700 | May | Monthly GDP/Services/IP/Trade/Construction |
15-Jun | 1635 | ---- | BOE Cunliffe at Politico Global Tech Summit |
16-Jun | 0930 | May | Bank of England/Ipsos Inflation Attitudes Survey |
21-Jun | 0700 | May | Inflation Report / Public Sector Finances |
21-Jun | 0930 | Apr | ONS House Price Index |
22-Jun | 1200 | ---- | Bank Of England Interest Rate |
23-Jun | 0001 | Jun | Gfk Monthly Consumer Confidence |
23-Jun | 0700 | May | Retail Sales |
23-Jun | 0930 | Jun | S&P Global Manufacturing / Services PMI flash |
27-Jun | 0001 | Jun | BRC Monthly Shop Price Index |
29-Jun | 0930 | May | BOE M4 / Lending to Individuals |
Date | Time | Country | Event |
13-Jun | 0700 | DE | HICP (f) |
13-Jun | 0800 | ES | HICP (f) |
13-Jun | 1000 | DE | ZEW Survey |
14-Jun | 1000 | EU | Industrial Production |
15-Jun | ---- | EU | ECB Panetta at Eurogroup Meeting |
15-Jun | 0745 | FR | HICP (f) |
15-Jun | 1000 | EU | Trade Balance |
15-Jun | 1315 | EU | ECB Rate Decisions |
15-Jun | 1345 | EU | Post-Meeting ECB Press Conference |
16-Jun | ---- | EU | ECB de Guindos at ECOFIN Meeting |
16-Jun | 0900 | IT | Italy Final HICP |
16-Jun | 1000 | EU | HICP (f) |
19-Jun | 1200 | EU | ECB Lane Fireside Chat |
19-Jun | 1240 | EU | ECB Schnabel at Euro50 Group Conference |
20-Jun | 0700 | DE | PPI |
20-Jun | 0900 | EU | Construction Production / Current Account |
EURGBP traded lower Friday to a new YTD low. The break of support confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies also highlight a bearish condition. The focus is on 0.8547 - touched Friday - the Dec 1 2022 low and a key support. A clear break of this level would reinforce a bearish theme. Initial resistance to watch is 0.8642, the 20-day EMA.