Euro - English Pound Analysis

Morning Analysis for CFD Instruments 09/11/2018

Fundamental analysis

09 November, 2018

EUR/GBP remained on the downside this morning, trading at its lowest since late April 2018 (0.86950). The euro remained under negative pressure as traders reacted to negative news out of Europe. The European Commission forecast on Thursday that the Italian economy would grow more slowly than Rome thinks in the next two years, leading to much bigger budget deficits than assumed by the new government. Sterling has gained more than 1.50% against the euro in November. The pound has benefited from growing investor expectations that Britain is close to reaching a deal with the European Union, less than five months before it is due to exit the bloc. Later this morning fresh GDP data for quarter three in the UK will be released. Investors will also pay attention to UK’s Manufacturing Production and Trade Balance data for September.

Technical analysis

Euro - English Pound Analysis Technical analysis 09/11/2018
Time Frame: 1 hour

EURGBP Support & Resistance Table - 09/11/2018

Support & Resistance Level Explanation
Resistance 2 0.8746 Daily R2
Resistance 1 0.8724 Daily R1
Support 1 0.8680 Daily S1
Support 2 0.8654 Daily S2

EURGBP Indicator Table - 09/11/2018

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

EURGBP Indicator / Period Table - 09/11/2018

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

EURGBP 09/11/2018 - Reference Price : 0.8701

Sell
Simple Moving AverageBuy (0)Sell (3)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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