(VIANEWS) – EUR/GBP (EURGBP) has been up by 0.91% for the last 5 sessions. At 18:09 EST on Tuesday, 14 February, EUR/GBP (EURGBP) is $0.88.
Eur/gbp slides towards 0.8800 on upbeat UK employment data, eurozone GDP eyed
However, a slump in January’s Claimant Count Change to -12.9K versus -3.2K prior, as well as strong prints of the Average Earnings Excluding Bonus for the said month seemed to have favored EUR/GBP bears of late., Having witnessed the initial reaction to the British data and EU fundamentals, EUR/GBP pair traders should wait for the preliminary readings of the fourth quarter (Q4) Gross Domestic Product (GDP) data for the Eurozone for clear directions.
EUR/GBP’s yearly highs and lows, it’s 7.496% up from its 52-week low and 4.515% down from its 52-week high.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, EUR/GBP’s Forex is considered to be overbought (>=80).
Previous days news about EUR/GBP (EURGBP)
- Eur/gbp price analysis: buyers remain hopeful around mid-0.8800s. According to FXStreet on Monday, 13 February, "That said, a one-week-old descending trend line restricts the EUR/GBP pair’s immediate upside to near 0.8870.", "On the contrary, the 200-SMA and an ascending trend line from January 19, close to 0.8835 and 0.8828 in that order, restrict the short-term downside of the EUR/GBP pair."
- Eur/gbp could extend its drop to 0.8800 – ING. According to FXStreet on Monday, 13 February, "The EUR/GBP drop could extend to 0.8800 but we think markets are running out of reasons to stay bearish on the pair for longer.", "We continue to see Euro outperformance from the second quarter and 0.9000 is our target level in EUR/GBP in the second half of 2023."
More news about EUR/GBP (EURGBP).
