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10.08.201807:15 Forex Analysis & Reviews: Fundamental Analysis of EUR/GBP for August 10, 2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/GBP has been quite bullish with the recent momentum which leads the price higher after breaching above 0.8850 area with a daily close recently. As of the recent economic, political and Brexit situation, GBP has been struggling to perform better against EUR which resulted in such impulsive bullish pressure in the process.

Today EUR French Industrial Production report is going to be published which is expected to increase to 0.5% from the previous negative value of -0.2%, French Prelim Private Payrolls report is expected to increase to 0.3% from the previous value of 0.2% and Italian Trade Balance is also expected to increase to 3.41B from the previous figure of 3.38B.

On the other hand, today the UK GDP report is going to be published which is expected to decrease to 0.2% from the previous value of 0.3%, Manufacturing Production is expected to decrease to 0.3% from the previous value of 0.4% and Prelim GDP is expected to increase to 0.4% from the previous value of 0.2%.

As of the current scenario, EUR is quite optimistic about the upcoming economic reports whereas GBP is still struggling with the dovish expectation of the high impact economic reports like GDP. If GBP performs better than expected, only then certain gain on the GBP may be observed or else EUR is expected to dominate further in the process.

Now let us look at the technical view. The price is expected to push lower towards 0.8950 area before pushing higher with the target towards the 0.9450 resistance area in the coming days. As the current price is quite away from the mean average of 20 EMA, so the price is expected to retrace towards 0.8950 before continuing the bullish momentum in the pair. As the price remains above the 0.8850 area with a daily close, the bullish bias is expected to continue further.

SUPPORT: 0.8850, 0.8950

RESISTANCE: 0.9450-0.95

BIAS: BULLISH

MOMENTUM: VOLATILE

Exchange Rates 10.08.2018 analysis

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