During Friday’s trading session EUR/GBP traded within the range of 0.8250-0.8278 and closed at 0.8269.
At 6:46 GMT today EUR/GBP was losing 0.02% for the day to trade at 0.8268. The pair touched a daily low at 0.8261 during the early phase of Asian trade.
Fundamental view
Confidence among investors in the Euro zone probably improved during the current month, with the corresponding index coming in at a reading of 14.2. In March it stood at 13.9. The index is based on results from the SENTIX survey, one of the most prominent surveys, reflecting investors opinion in Germany. It encompasses 2 400 respondents, with 510 of them being institutional investors. Respondents present their expectations regarding ten different markets for a period of one and six months. The value of the index is evaluated, as the number of investors projecting a surge in a given market is subtracted from the number of those projecting a drop and the resulting difference is divided by the total number of respondents. Higher than expected readings would be supportive for the euro. The official result is expected at 9:30 GMT.
Technical view
According to Binary Tribune’s daily analysis, in case EUR/GBP manages to breach the first resistance level at 0.8281, it will probably continue up to test 0.8294. In case the second key resistance is broken, the pair will probably attempt to advance to 0.8309.
If EUR/GBP manages to breach the first key support at 0.8253, it will probably continue to slide and test 0.8238. With this second key support broken, the movement to the downside will probably continue to 0.8225.
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