EUR/GBP News

Euro / British Pound Weekly Daily Hourly Trends Resistances 0.842 0.8375 0.836 Supports 0.83 0.832 0.833 Our strategy FLAT

Euro / British Pound Weekly Daily Hourly Trends Resistances 0.861 0.858 0.855 Supports 0.8485 0.8495 0.8525 Our strategy FLAT

Euro / British Pound Weekly Daily Hourly Trends Resistances 0.867 0.863 0.859 Supports 0.845 0.85 0.8525 Our strategy FLAT

Euro / British Pound Weekly Daily Hourly Trends Resistances 0.8825 0.88 0.8775 Supports 0.865 0.8705 0.874 Our strategy FLAT

Euro / British Pound Weekly Daily Hourly Trends Resistances 0.885 0.88 0.8765 Supports 0.865 0.8705 0.8745 Our strategy Entry Stop Target 1 Target 2 0.8755 0.878 0.871 0.869

Euro / British Pound Weekly Daily Hourly Trends Resistances 0.8925 0.889 0.8835 Supports 0.872 0.8745 0.8775 Our strategy FLAT

Euro / British Pound Weekly Daily Hourly Trends Resistances 0.8945 0.8895 0.883 Supports 0.872 0.874 0.8775 Our strategy FLAT

The Canadian Dollar has been the weakest one of the commodity currencies for some time. It also lost ground against the USD, which rallied to above 0.9800 for the first time since late March. With this in a background, today’s interest rate decision by the Bank of Canada was highly anticipated. While the market participants did not expect a hike, yet, everybody wanted to hear what the central bank is going to say about possible future actions, especially since economic indicators from Canada have been mixed and hard to interpret. Turned out that the forecast was correct – the BoC left interest rates unchanged at 1%. However, the Governor Mark Carney said that the economic recovery was proceeding as expected, and promised a raise “eventually”. That is a very vague term, revealing, well, nothing, but markets took it to heart and the Canadian Dollar rallied. Now we need to see a continuation tomorrow, otherwise today’s action is only a correction within...

Forex Pros – Canada's raw materials price index rose significantly more-than-expected in April, official data showed on Tuesday.In a report, Statistics Canada said the raw materials purchase price index jumped by a seasonally adjusted 6.8% in April, after increasing by 5.8% in March, whose figure was upwardly revised from 5.7%. Analysts had expected the raw materials purchase price index to rise by 4.3% in April.The industrial product price index rose less-than-expected in April, increasing by 0.5% after climbing by 1% in March, whose figure was upwardly revised from a gain of 0.9%. The strong increase in petroleum prices was the main reason for the advance of both indexes.Following the release of the data, the loonie was up against the U.S. dollar, with USD/CAD shedding 0.51% to hit 0.9720.

Forex Pros – The euro rose to a one-week high against the pound on Tuesday, boosted by reports that Germany may make concessions to facilitate a new bailout package for Greece.EUR/GBP hit 0.8745 during European afternoon trade, the pair’s highest since May 24; the pair subsequently consolidated at 0.8731, surging 0.71%.The pair was likely to find support at 0.8654, Monday’s low and resistance at 0.8837, the high of May 20.Earlier in the day, the Wall Street Journal reported that Germany may consider abandoning a push to reschedule Greek debt early, which may pave the way for Greece to receive a new package of financial aid. The European Union is drafting a second bailout package for Greece to release vital loans next month and avert the risk of it defaulting.Elsewhere, concerns over the U.K.‘s fragile economic recovery were underlined on Monday, after industry data showed house prices falling at their fastest annual pace in over one-and-a-half years in May, while the...