Morning Insights 18th August

Simon Alagbe


Instrument: EURGBP

The common currency gained ground against the Queen's currency in yesterday's session buoyed by positive job data from the Eurozone. The GDP of the Eurozone grew at 2% after two successive contractions while the number of persons employed went up by 0.3% just as expected by market participants. 


The pair broke through the 0.85154 resistance zone in yesterday's session and I expect a retest around that zone today before a surge to the upside with a target at 0.85314 and stop-loss at 0.85135. 


CPI y/y (GBP) 7:00 am

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