Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
EUR/GBP: bulls aim for a breakthrough
2019-11-11 • Updated
TP1 0.9090 TP2 0.92 TP3 0.9730
On the daily chart, EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern. An advance above the upper border of the “ledge” will increase the odds of getting to 161.8% target of AB=CD.
On H1, EUR/GBP is in a sustainable uptrend. In a situation like this, it’s better to buy on the break of the key resistance levels or on a fading correction.
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
What will happen? Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3)…
How to understand if an economy is accelerating or decelerating? What are the indicators that can guide us in this interpretation? One of the ways in which we can assess this situation is precisely the household consumption, which fundamentally refers to…
Credit cycles (or leverage cycles) represent moments in the economy of a country when families and companies get indebted, in order to invest or to spend in different segments, which ends up positively influencing the level of the general economic…