FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURAUD and EURJPY) for the day)
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (USCAD and EURJPY) for the day)
FxWirePro: EUR/GBP Daily Outlook
Chart - Courtesy Trading View
EUR/GBP was trading 0.50% lower on the day at 0.8890 at around 13:30 GMT.
The pair is extending weakness for the third straight session, slips below 5-DMA.
Data published by the European Commission showed on Thursday that euro area Economic Sentiment Indicator (ESI) declined to 93.7 in September from 97.3 in August, missing market expectation of 95.
Details of the report showed Industrial Confidence Index fell to -0.4 from 1 and the Services Sentiment Index edged lower to 4.9 from 8.1.
Further, Consumer Confidence Index for the euro area arrived at -28.8, a new all-time low, matching the flash estimate.
Technical indicators on the daily charts are turning bearish. Stochs and RSI are on verge of bearish rollover from overbought levels.
Price action is just shy of 200H MA. Decisive break below will drag the pair lower.