Filed Under:
Forex pairs in this Article » EUR/GBP (Barcelona) - With a very busy week ahead in terms of data, the EUR/GBP may be in the final stages of a fourth wave consolidation / correction according to Elliott Wave technicians.

EUR/GBP traders ready for data-intensive week – technicals are steering right now

EUR/GBP traders have a busy, data-filled week ahead:

• Monday – EuroZone Investor Confidence;
• Tuesday – German Trade Balance; German Factory Orders;
• Wednesday – ECB Monthly Report; German Industrial Production; BOE Credit Conditions; British Industrial Production; British Manufacturing Production; British Trade Balance; British GDP estimate; Mario Draghi speech
• Thursday - BOE interest rate decision and asset purchase facility announcements; Mario Draghi speaks again
• Friday – British Leading Economic Index; Inflation data from Germany, Spain and Italy

Technical outlook for EUR/GBP

Elliott Wave technicians say the EUR/GBP may be in the final stages of an “expanding flat” correction with an upside target of 0.8482. Above that, the next level to watch will be 0.8513 horizontal line resistance. Support for the cross comes in at Friday’s low of 0.8421.
comments powered by Disqus