Fundamentals and Analysis: Sterling Pound with chances of buy!!!
Remember that in yesterday I make a technical analysis of this par, we see that this par wan't to change the trend, also remember that in macrotrend as weekly or montly we are in the higher zone of possibles sellers and supply zone.
This is a weekly panoramic and we see that Euro is weakness!!! We are in this distributtion zone from the year 2016
Now, for your convenience, if you are left Daily timeframe, I make for you this technical analysis in H4 timeframe, the key in H4 it's seem bearish as we see in Daily timeframe. We are in this simetric triangle and into this grant simetric triangle, look up that is a distributtion zone and that mean a chartist pattern a continuation of the bear scenario. Also, i show my favorite indicator RSI, we see that RSI in H4 is below of 50, that is an extra confirmation of sell. And also, we see that we could see a drop of 150 pips, that is your perfect target profit as to me.
Fundamentals:
1. Pound Sterling to Euro exchange rate up but gains may be limited
2. Following last week's modest tumble, the Pound is also edged higher today. Sterling is gaining on a riskier market mood, but the currency's gains may be limited.
3. Sterling attempts to benefit from market sentiment
4. Pound exchange rate appeal limited as "second wave" coronavirus fears rise
5. The pound briefly saw a jump in demand last week. Investors reated to news that the bank of England 2020 economic forecasts were not as dire as they had been in May.
6. The pound's benefit from this news was limited. Sterling was sliding again towards the end of the week, as concerns about the possibility of negative rates in the UK weighed on the currency's outlook alongside Brexit jitters.
7. Euro exchange rates pressured as rivals attemp recovery.
8. Investors have found the Euro broadly appealing in recent months
9. Investors are hesitant to keep buying Euro even higher following its long period of gains.
9. Investors are opting to buy Euro agains the rivals on the cheapest level if the Euro is go to sell for limited time.
10. Pound to Euro exchange rates awaiting UK Job Market Data
