Euro - English Pound Analysis

US Session Analysis for CFD Instruments 07/02/2019

Fundamental analysis

07 February, 2019

EUR/GBP rose 0.13% on Thursday to hit a session high of 0.88126. The Bank of England (BOE) held its benchmark interest rates steady on Thursday, with just 50 days to go before the U.K. leaves the European Union. As widely expected, the BOE’s nine-member Monetary Policy Committee (MPC), led by Mark Carney, unanimously voted to leave interest rates unchanged at 0.75%. “U.K. economic growth slowed in late 2018 and appears to have weakened further in early 2019,” policymakers at the central bank said. On Brexit, Prime Minister Theresa May was in Brussels on Thursday to plead with EU leaders to change the Brexit divorce deal she negotiated last year, in order to get it through parliament, after they offered little hope they were willing to do so. The upside potential, however, seemed limited as EU Commission sharply cut on Thursday its forecasts for euro zone economic growth this year and next because it expects the bloc’s largest countries to be held back by global trade tensions and an array of domestic challenges. The Commission said euro zone growth will slow to 1.3% this year from 1.9% in 2018, before rebounding in 2020 to 1.6%. The new estimates are far less optimistic than those released in November, when Brussels expected the euro zone to grow 1.9% this year and 1.7% in 2020. The European Commission slashed its economic growth forecasts for Italy for 2019 and 2020 on Thursday. The Commission said Italian gross domestic product was likely to grow by only 0.2% in 2019, down from 1.0% in 2018 and against a 1.2% growth forecast the Commission made last November.

Technical analysis

Euro - English Pound Analysis Technical analysis 07/02/2019
Time Frame: 1 hour

EURGBP Support & Resistance Table - 07/02/2019

Support & Resistance Level Explanation
Resistance 2 0.8847 Daily R2
Resistance 1 0.8821 Daily R1
Support 1 0.8776 Daily S1
Support 2 0.8750 Daily S2

EURGBP Indicator Table - 07/02/2019

Indicator Signal
SMA 20 Buy
SMA 50 Buy
SMA 100 Buy
MACD( 12;26;9) Neutral
RSI (14) Buy
Stochastic ( 9;6;3) Buy

EURGBP Indicator / Period Table - 07/02/2019

Indicator / Period Day - BuyWeek - SellMonth - Buy
MACD( 12;26;9) Neutral SellBuy
RSI (14) Buy NeutralNeutral
SMA 20 Buy SellSell

EURGBP 07/02/2019 - Reference Price : 0.8799

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (0)
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