$EURGBP looking for EUR weakness to return to market this week.
theworkingtrader.com
Heavy Resistance between 7286 - .7301.
Nothing has changed in the eurozone. QE will continue.
GBP sold off last week on comments from Governor Mark Carney - "Bank of England may raise rate rises later than expected".
Minus the comment from Carney we saw last week the trade deficit decreased to £8.4 billion.
With the spill over from Europe caused by QE - we could start seeing an uptick in Business investment and product/services data.
Poor Earnings data added to the correction of this pair. I believe the earnings data should improve over the year.
A side note - We have elections in the UK putting a shadow on GBP - if the conservatives win there is a possibility of Great Britain leaving the European Union.
Heavy Resistance between 7286 - .7301.
Nothing has changed in the eurozone. QE will continue.
GBP sold off last week on comments from Governor Mark Carney - "Bank of England may raise rate rises later than expected".
Minus the comment from Carney we saw last week the trade deficit decreased to £8.4 billion.
With the spill over from Europe caused by QE - we could start seeing an uptick in Business investment and product/services data.
Poor Earnings data added to the correction of this pair. I believe the earnings data should improve over the year.
A side note - We have elections in the UK putting a shadow on GBP - if the conservatives win there is a possibility of Great Britain leaving the European Union.