On H4 timeframe, we see a possible formation of the Elliot Wave #4. Well guys, we hope another buy entry with the bull candlestick on confirmation. Now, we hope that in H1 timeframe is gave us a entry for long position to find up 200 pips as take profit, because I proyect the Euro is go to be more benefit this week, but the earning in the Pound was so little, but not muhc becuase the fundamental news show another singal of warned for the UK. Fundamental Analysis: 1. Sterling Pound to Euro Exchange Rate Seeing Brexit Pressure but jobs surprise markets.
2. Pound to Euro Exchange Rate Pushed Back as No-Deal Brexit Fear and see no relief yesterday saw Sterling attempt to recover saw Sterling attempt to recover from its sorst levels.
3. With Fears of the UK-EU Brexit talks collapse persisting, the Pound is still uner significant pressure.
4. GBP/EUR is attempted to rebound from its cheapest levels yesterday, and has fallen again from this specualte news showing today.
5. The U.K. government continues its attempts to undermine the Brexit withdrawal agreement.
6. Pound fail to mount recovery despite stronger than forecast jobs.
7. As the UK government won its first parliament vote on pushing through its controversial changes to the Brexit withdrawal agreement yesterday.
8. With a little sign that the government will soften its position, no-deal Brexit fears persist. The pound has been unable to recover much of the huge losses it saw last week.
9. Today, the UK’s job market report beating forecasts. Because there were less new jobless claims than expected, and less jobs lost than forecast.
10. However, analysts once again warned that the data was cancealing the full impact of the coronavirus pandemic on Britain’s jobs.
11. On the report about the pais employees in United Kingdom, Ed Conway twett in the Twitter that the payroll jobs it’s come to down by around of 700,000 since the beginning of covid-19.
12. Ed Conway commented too that redundancies are now rising at the fastest to be shape on the financial crisis in United Kingdom
13. Markets will continue to closely watch domestic Brexit developments, as well as how relations with the European Union unfold. If UK-EU relations worsen further, the pound is unlikely to see much relief.
14. Investors will also be watching upcoming data about the UK inflation rate will be published tomorrow, as will Eurozone trade balance data is published on Thursday. So, fundamentally the Euro is appear to gaining this week on the market with a good opportunity to entry in long position. I believe that Eurozone is more stable than UK and maybe a good buy of Euro is become more resilient as Eurozone is most stronger!!! So guys, we hope a re-entry because on the latest 3 hours I send you an alert to put in long, but as Euro is going to down a little because we see a formation of this bullish rising wedge taht fundamentals told it.