EUR/GBP fundamental analysis
2023.01.23 11:45
EUR/GBP fundamental analysis
We can see USD actually exchanging south since Friday, when US stocks had the option to recuperate a little. Notwithstanding, a more serious level negative pattern can in any case be possible, however intraday patterns on a portion of the majors will rely upon the information. We have EUR and GBP PMI figures tomorrow, so I think can see some unpredictability this week.
In fact talking, we see EURGBP in a negative intraday pattern with five waves down, trailed by a current intraday rise that can be restorative, presently moving toward some opposition at 0.8800.
I figure we can see a negative continuation as the week progressed, particularly assuming we consider that is coming higher, into the last phases of a fifth wave, out of a triangle. In Elliott wave terms, moves out of a triangle are last in the grouping. We think the negative intraday pattern can continue on while the pair is underneath 0.8900.
