Free Trial

Price Signal Summary – EUR/GBP Snaps Losing Streak, Eyes Turn Higher

OUTLOOK
  • EURGBP trend conditions remain bullish, with prices reverting higher on the back of the UK CPI release. Wednesday saw the first higher close in eight sessions for the cross, helping partially reverse a large part of the modest pullback.
  • EURJPY is recovering further off support headed through the Wednesday close, marking a third consecutive session of the cross closing at a session high. The next upside level sits at 144.00 handle resistance ahead of 144.53.
  • GBPUSD maintains a sell-on-rallies theme as price failed to retain upside momentum after the 1.2269 print Tuesday. Recent weakness reinforces a S/T bearish theme and signals scope for a continuation.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.