EURGBP and GBPCHF Technical Update 30 June 2020
<p>Sterling fell significantly on Monday, apparently weighed down by plans by British Prime Minister Boris Johnson to double public investment.</p>
<p>The sell-off was particularly evident against the Euro, as the Euro was slightly lifted by better than expected Eurozone and German CPI confidence indicators. Other developments also brought the Swiss Franc higher. On the other hand, the Yen and Dollar followed in the footsteps of the Pound as the weakest on Monday.</p>
<p><a href="https://analysis.hotforex.com/wp-content/uploads/2020/06/EURGBP-4.jpg"><img class=" wp-image-145637 aligncenter" src="https://analysis.hotforex.com/wp-content/uploads/2020/06/EURGBP-4-300x135.jpg" alt="" width="694" height="313" srcset="/wp-content/uploads/2020/06/EURGBP-4-300x135.jpg 300w, /wp-content/uploads/2020/06/EURGBP-4-1024x461.jpg 1024w, /wp-content/uploads/2020/06/EURGBP-4-768x346.jpg 768w, /wp-content/uploads/2020/06/EURGBP-4-696x313.jpg 696w, /wp-content/uploads/2020/06/EURGBP-4-1068x481.jpg 1068w, /wp-content/uploads/2020/06/EURGBP-4-933x420.jpg 933w, /wp-content/uploads/2020/06/EURGBP-4.jpg 1366w" sizes="(max-width: 694px) 100vw, 694px" /></a></p>
<p>Technically, EURGBP shows a very clear upward acceleration. A sustained break from the 0.9182 level would open the way back to the average high of +/- 0.9300 with a continued peak price of 0.9498. Last week’s high price of 0.9099 (50.0% FR level) will be a strong support. GBPCHF passed the 50.0% retracement from the low price of 1.1630 after breaking out from the previous low at 1.1728. Advanced support is at the 1.1545 level (61.8% FR), but you need to pay attention to previous low prices. If the movement continues, it will open the path for a test of 1.1115.</p>
<p><a href="https://analysis.hotforex.com/wp-content/uploads/2020/06/GBPCHF.jpg"><img class=" wp-image-145647 aligncenter" src="https://analysis.hotforex.com/wp-content/uploads/2020/06/GBPCHF-300x135.jpg" alt="" width="681" height="307" srcset="/wp-content/uploads/2020/06/GBPCHF-300x135.jpg 300w, /wp-content/uploads/2020/06/GBPCHF-1024x461.jpg 1024w, /wp-content/uploads/2020/06/GBPCHF-768x346.jpg 768w, /wp-content/uploads/2020/06/GBPCHF-696x313.jpg 696w, /wp-content/uploads/2020/06/GBPCHF-1068x481.jpg 1068w, /wp-content/uploads/2020/06/GBPCHF-933x420.jpg 933w, /wp-content/uploads/2020/06/GBPCHF.jpg 1366w" sizes="(max-width: 681px) 100vw, 681px" /></a></p>
<p>The Eurozone Economic Sentiment indicator rose to 75.7 in June, compared to 67.5, but missed expectations of 80.0. However, an increase of +2.2pts is still the largest increase m/m. Also, the Labour Expectations Indicator resumed a steep recovery last month and jumped from 70.1 to 82.8. Depending on the sector, employment plans have so far recovered about 40% to 60% of the losses recorded in March and April. Meanwhile, German CPI rose 0.6% m/m in June, above expectations of 0.3% m/m. For the annual measure, CPI increased to 0.9% y/y, up from 0.6% y/y and beyond expectations of 0.6% y/y.</p>
<div>
<div>
<aside>
<div>
<div>
<div>
<div>
<p><strong>Don’t forget to follow and immediately register for </strong><a href="https://www.trade-hf.com/sv/id/trading-tools/trading-webinars.html?webinar_lang=id#webinars">FREE ONLINE WEBINAR</a></p>
<p><strong>Click </strong><a href="https://www.hotforex.com/en/trading-tools/economic-calendar.html"><strong>here</strong></a><strong> to access the Economic Calendar</strong></p>
</div>
</div>
</div>
</div>
</aside>
</div>
</div>
<p><strong>Ady Phangestu</strong></p>
<p><strong>Market Analyst – hfindonesia</strong></p>
<p><strong>Disclaimer:</strong>This material is provided as general marketing communication for the purpose of information only and not as independent investment research. This communication does not contain investment advice or recommendations or requests for the purpose of buying or selling any financial instrument. All information presented comes from reliable, reputable sources. All information that contains indications of past performance is not a guarantee or a reliable indicator of future performance. The user must realize that all investments in Products with Leverage have a certain degree of uncertainty and that all investments of this kind involve a high level of risk for which the obligations and responsibilities are solely borne by the user. We are not responsible for losses arising from any investment made based on information provided in this communication. Reproduction or further distribution of this communication is prohibited without our prior written permission.</p>
<p><strong>Risk Warning:</strong> Trading Leverage Products such as Forex and Derivatives may not be suitable for all investors because they contain a high level of risk to your capital. Before trading, please ensure that you fully understand the risk content involved, taking into account your investment objectives and level of experience and, if necessary, seek advice and input from independent parties.</p>