- The euro reaches new minimums compared to a weaker pound and points to the maximum of the year of 0.8735.
- The consumption figures of the United Kingdom, little encouraging, have increased the bearish pressure on the pound on Friday.
- The EUR/GBP is in an upward trend, with supports in 0.670 and 0.8635.
The euro extends its profits for the second consecutive day against the sterling pound, reaching new top three weeks above 0.8700, with the bullies pointing to the maximum of the year of 0.8740.
The data of the United Kingdom published earlier on Friday revealed that retail sales increased at a softer pace than expected of 0.9% in June, compared to the expectations of a 1.2% growth and after a 2.7% drop in May. These figures arrive after quite discouraging business activity numbers published on Thursday and are pressing the GBP down against their main peers.
Technical Analysis: In an upward trend with support at 0.8695
From a technical perspective, the euro could see some consolidation or moderate correction, since the 4 -hour RSI has reached overcompra levels. However, the broader upward trend remains at stake, with the previous resistance at 0.8695 that will probably provide support now.
An additional setback could find buyers in the 0.8670 area, where the medium -term trend line support is located with the minimum of Thursday. Below, the upward trend will be in doubt, and the bassists will point to the area of 0.8635-0.8645, where the minimum of July 17, 18, 21 and 13 converge.
Upwards, the next key resistance is located in the April peak, at 0.8735, before the 161.8% Fibonacci extension of the mid -June rally, in the area of 0.8750.
LIBRA ESTERLINA PRICE TODAY
The lower table shows the percentage of pounding sterling (GBP) compared to the main currencies today. Libra sterling was the strongest currency against the Japanese and in Japanese.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.10% | 0.41% | 0.52% | 0.29% | 0.52% | 0.30% | 0.08% | |
| EUR | -0.10% | 0.34% | 0.42% | 0.21% | 0.33% | 0.20% | -0.03% | |
| GBP | -0.41% | -0.34% | 0.08% | -0.15% | -0.01% | -0.11% | -0.37% | |
| JPY | -0.52% | -0.42% | -0.08% | -0.23% | -0.06% | -0.21% | -0.44% | |
| CAD | -0.29% | -0.21% | 0.15% | 0.23% | 0.27% | 0.01% | -0.24% | |
| Aud | -0.52% | -0.33% | 0.01% | 0.06% | -0.27% | -0.12% | -0.34% | |
| NZD | -0.30% | -0.20% | 0.11% | 0.21% | -0.01% | 0.12% | -0.23% | |
| CHF | -0.08% | 0.03% | 0.37% | 0.44% | 0.24% | 0.34% | 0.23% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
