After the GBP / EUR reached
on May 5 the highest price of the year (0.9041) from that date began a downward
trend over the past few days has been validating the Support level of 0.8675.
It should be noted that this
level of contribution to the British Pound compared to the Euro, it has meant
in the past and significant level of support & resistance, as demonstrated
in the golden strip shown in the graph.
Moreover, according to the stochastic
indicator showing, combined with Fibonaci Retracement (from 0.8355 to 0.9041) -
not included in the graphical figures do not charge - the Euro is in a position
to strike again price of 0.89. But IS VERY IMPORTANT not to forget that in the
coming days will be announced two relevant economic data of England
Claimant Count Change on May
18 at 10:30 am and
Retail Sales on May 19 also
at 10:30 am.
