Instrument: EURGBP
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.86109 with take profit at 0.86200
Bearish Preference:
Sell position is envisaged if price trades below 0.85991 with take profit at 0.85870
Fundamentals:
No major fundamental
Comment:
In Europe, German industrial production rose just 0.3% on the month in April, an improvement from the previous month’s revised 2.1% slump, as Europe’s largest economy attempts to recover from its winter recession. There are a number of ECB officials speaking Wednesday, and investors will be looking for further guidance ahead of next week’s policy-setting meeting of the European Central Bank. The eurozone’s central bank is widely seen as continuing its rate-hiking cycle, with President Christine Lagarde cementing expectations by stating that it was too early to call a peak in core inflation despite “signs of moderation”.
Analysis: SCRUM Team