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  • ECB's Lane: - If favorable financing conditions can be maintained, maximum amount of asset purchases may not be necessary - Recent intensification of pandemic represents a significant downside risk, requires continuation of various fiscal support measures #ECB $EUR
  • ECB's Elderson: - Impact of the crisis on the European banking sector has yet to be fully revealed - Consequences of Brexit still need to be dealt with - It is "high time" to complete the EU banking union through institutional/regulatory architecture, deposit insurance #ECB $EUR
  • Italy's coalition Democratic Party (PD) wants Conte to resign and guarantees support for him as head of new government - PD Lawmakers $EUR
  • $NZDUSD is back above 0.7200 this morning, trading near one of January's key levels for the pair. $NZD $USD https://t.co/WIsB7K8Zus
  • UK PM Johnson to visit Scotland to make impassioned plea for Scotland to reject narrow separatism - The Sun $GBP
  • 🇺🇸 Chicago Fed National Activity Index (DEC) Actual: 0.52 Previous: 0.27 https://www.dailyfx.com/economic-calendar#2021-01-25
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 69.28%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/IcGOFR0QfL
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  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.40% 🇦🇺AUD: 0.16% 🇨🇦CAD: 0.10% 🇯🇵JPY: 0.02% 🇨🇭CHF: -0.16% 🇪🇺EUR: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Lipxi7E6zE
  • Heads Up:🇺🇸 Chicago Fed National Activity Index (DEC) due at 13:30 GMT (15min) Previous: 0.27 https://www.dailyfx.com/economic-calendar#2021-01-25
Forex Analysis: EUR/GBP Classic Technical Report 12.06.2012

Forex Analysis: EUR/GBP Classic Technical Report 12.06.2012

Ilya Spivak, Head Strategist, APAC

Prices pulled back to retest resistance-turned-support at 0.8117, the 38.2% Fibonacci retracement. A drop back below that eyes the 23.6% expansion at 0.8057. Near-term resistance is at 0.8166, the 50% level. This is reinforced by a rising channel top set from early November (0.8174). A break above that exposes the 61.8% Fib at 0.8215.

Forex_Analysis_EURGBP_Classic_Technical_Report_12.06.2012_body_Picture_1.png, Forex Analysis: EUR/GBP Classic Technical Report 12.06.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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