We were commenting in our
previous article, that the couple EUR/GBP had come validating the level of
Support of 0.8675, and inclusive we dared to predict that the Community
Currency was in conditions to reach the price of 0.89 Euros for every Pound Sterling.
The behavior of the Euro
opposite to the Pound Sterling on the 18th and 19th of May they made us
encourage hopes of which I predict this one would be fulfilled. Nevertheless,
from the Londoner session of trading of May 20 and being absent a few minutes
in order that it finishes Trading's session of Tokyo of today (May 24), the
Euro was and are involved in a downward rally that has made it lose 150 pips
and that has given as consequence that this on the verge of proving again the
zone of Support mentioned, since it appears in the attached graph.
In case his Support was
crossed to the fall, the following Support that we visualize corresponds to the
zone of 0.8620. On the other hand, if his current Zone of Support is still in
force, we might hope that during the rest of the week the Euro recovers the
pips lost from last Friday.
In this matter, it is clear
that in the weekly behavior of this couple of Currencies an important role will
play the information of the Gross Domestic Product of England that will be announced
next Wednesday at 10:30 (GMT + 1.00).
