Open Account

EURGBP SIGNAL 22-06-2022 : EURGBP Price Analysis Bounces off 100-HMA on unimpressive UK inflation

EURGBP SIGNAL

EURGBP SIGNAL : EURGBP Price Analysis Bounces off 100-HMA on unimpressive UK inflation

  • EUR/GBP takes the bids to refresh intraday high after UK inflation data.
  • UK CPI matches YoY forecasts, Core CPI eases in May.
  • Weekly symmetrical triangle challenges immediate moves, RSI hints at the further upside.

EURGBP SIGNAL : EUR/GBP regains upside momentum on mixed UK inflation data during early Wednesday morning in Europe. In doing so, the cross-currency pair takes the bids to refresh daily top around 0.8590 by the press time.

UK’s Consumer Price Index (CPI) matches 9.1% YoY forecasts versus 9.0% prior. However, the Core CPI dropped to 5.9%, below 6.0% market consensus and 6.2% previous readouts.

Technically, the quote bounced off the 100-HMA following the inflation data, staying inside a one-week-old symmetrical triangle.

EURGBP SIGNAL : Given the EUR/GBP pair’s latest rebound from the short-term key moving average, backed by data, the upside momentum is likely to poke the resistance line of the stated triangle, near 0.8600.

It’s worth noting that the firmer RSI adds strength to the recovery moves, which in turn could propel the prices towards Friday’s peak of 0.8635 ahead of highlighting the monthly high near 0.8720.

Meanwhile, pullback moves need validation from the 100-HMA level of 0.8577, a break of which could drag EUR/GBP prices towards the support line of the mentioned triangle, at 0.8565 by the press time.

If the pair declines below 0.8565, the previous weekly low near 0.8510 and the monthly bottom surrounding 0.8485 will be in focus.

Confuse Which Broker is best ? , Here you can find the best regulated broker

Categories
Recent Posts

FIRST CAPITALS brand is authorized and regulated in various jurisdictions.
First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 187/15, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 47710. The company is also registered with the Financial Conduct Authority of the UK with FRN 713478 and Register number 06331319
First Capitals (www.First Capitals.com/uk) is authorised and regulated by the Financial Conduct Authority of the UK with FRN 713478 and Register number 06331319
International Capital First Strategy (www.First Capitals.com/uk) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012265.
Card transactions are processed via International Capital First Startegy Technical ACADEMY Ltd, Reg No. HE 335426 and registered address at Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus, and via International Capital First Startegy Technical ACADEMY Ltd , Reg No. HE 400404 and registered address at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus. Address for cardholder correspondence: backoffice@First Capitals.com.. Business location address: FIRST CAPITALS Tower,75 Westow hill , Crystal Palce,London, SE191TX .
International Capital First Startegy Technical ACADEMY Ltd is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.
Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence. Please read FIRST CAPITALS’s full Risk Disclosure.
Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs

© 2011 – 2021 FIRST CAPITALS 

Facebook-f Twitter Linkedin Instagram Youtube Telegram-plane
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms
  • MyFXTM - Client Dashboard
  • FXTMPartners Affiliate & IB program
  • FXTMPartners
  • Partnership widgets
  • Careers
  • Global Networks – Nigeria
  • Events
  • Client Services
  • Excellent Trading Terms

FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

First Capitals (www.First Capitals.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

Exinity Limited (www.First Capitals.com/uk) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus, and via Exinity Services Ltd , Reg No. HE 400404 and registered address at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus. Address for cardholder correspondence: backoffice@First Capitals.com.. Business location address: FIRST CAPITALS Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus.

Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs.

© 2011 – 2021 FIRST CAPITALS