Euro - English Pound Analysis

Evening Analysis for CFD Instruments 12/02/2019

Fundamental analysis

12 February, 2019

EUR/GBP rose 0.10% on Tuesday to test a session high of 0.87834. In UK, Prime Minister Theresa May will tell British lawmakers on Tuesday they must hold their nerve over Brexit to force the European Union to accept changes to the divorce deal that would pave the way for an orderly exit. The United Kingdom is on course to leave the European Union on March 29 without a deal unless May can convince the bloc to amend the divorce deal she agreed in November and then sell it to skeptical British lawmakers. European Union Brexit negotiator Michel Barnier said on Monday the bloc would agree to tweak the political declaration on EU-UK ties after Brexit that forms part of the package, to reflect a plan for a closer future relationship that could obviate the need for the contentious backstop. The British parliament is set to hold a debate on Brexit on Feb. 14 but with just 45 days until Britain leaves the bloc, no date has yet been set for another “meaningful” vote on May’s deal. Soft European data last week, on the other hand, kept the euro under pressure. The European Commission sharply cut on Thursday its forecasts for euro zone growth for this year and next, with the bloc’s largest economies expected to be held back by global trade tensions and domestic challenges. Early this afternoon, BoE Governor Mark Carney will at an FT event as Brexit nears and the world economy slows.

Technical analysis

Euro - English Pound Analysis Technical analysis 12/02/2019
Time Frame: 1 hour

EURGBP Support & Resistance Table - 12/02/2019

Support & Resistance Level Explanation
Resistance 2 0.8811 Daily R2
Resistance 1 0.8793 Daily R1
Support 1 0.8750 Daily S1
Support 2 0.8744 Daily S2

EURGBP Indicator Table - 12/02/2019

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

EURGBP Indicator / Period Table - 12/02/2019

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

EURGBP 12/02/2019 - Reference Price : 0.8775

Buy
Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (1)Sell (1)
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