EUR/GBP Fundamental Analysis January 16, 2012, Forecast

Economic Events

Jan. 16

02:00

EUR

German WPI (MoM)

 

04:00

EUR

Italian Trade Balance

 

19:01

GBP

Nationwide Consumer Confidence

Highest: 1.2336 EUR on 29 Jun 2010.

Average: 1.1548 EUR over this period.

Lowest: 1.0686 EUR on 13 Oct 2009.

Rule:

EUR/GBP: The cross tends to move in ranges, with relatively clear barriers. The narrower ranges made it somewhat harder, but it seems to return to wider ranges. The GBP is does not seem to move in response to the EUR as directly currently. The UK austerity program vs. The EU debt crisis seems to have them moving in opposing distances. They are developing new trading personalities and there is a good deal of profit to be made trading this pair. They can be volatile.

Resistance :                        .839

Support:                              .8325

EUR/GBP             2012 Jan 13 7:33 GMT     .83616

The euro continues to drop against the sterling. A lot is based on the S&P downgrade rumors. 

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