During yesterday’s trading session EUR/GBP traded within the range of 0.8241-0.8280 and closed at 0.8277.
At 6:21 GMT today EUR/GBP was gaining 0.06% for the day to trade at 0.8280. The pair touched a daily high at 0.8286 at 5:00 GMT.
Fundamental view
Spains annualized index of consumer prices (CPI) probably fell 0.2% in March, after showing no change in February. The index measures the change in price levels of a basket of goods and services from consumer’s perspective and also reflects purchasing trends. In case the CPI dropped more than projected, this would have a bearish effect on the euro. The National Institute of Statistics will release its official report at 7:00 GMT.
Spanish final annualized CPI, evaluated in accordance with Eurostats harmonized methodology, probably matched the preliminary CPI estimate of -0.2% in March, released on March 28th.
Technical view
According to Binary Tribune’s daily analysis, in case EUR/GBP manages to breach the first resistance level at 0.8291, it will probably continue up to test 0.8305. In case the second key resistance is broken, the pair will probably attempt to advance to 0.8330.
If EUR/GBP manages to breach the first key support at 0.8252, it will probably continue to slide and test 0.8227. With this second key support broken, the movement to the downside will probably continue to 0.8213.
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