Vladimir Ribakov analyzes EUR/GBP after strong US jobs data and improving Eurozone inflation. The ADP report signals a robust labor market, while European producer prices rose sharply in December. He recommends selling rallies on a bearish 4-hour chart, targeting lower support zones.
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Hello traders, Vladimir here from Home Trader Club. Here is what happens in the market today. The ADP report shows that the US job market is still very, very solid. ADP report, as we know, is sort of a preparation for what's expected in the non-farm payroll report happens this Friday. Besides that, some of the European central banks Members are very happy with the way that the inflation proceeds further, and as we saw today, the Eurozone PPI in December again shows improving numbers, much better numbers. As I said before, some of the European Central Bank members are very happy to see the inflation pressure approaching. To the European Central Bank target. How does that affect on the market and what pairs are on the list, um, with this news? I would be looking at the euro pound. With the 4-hour chart forming pretty solid bearish trending structure and making some retraces, I would be expecting to see further bearish move or bears taking the control. So for me I would be looking to sell these rallies expecting the EUR/GBP to reach some next key supportive levels and demand levels on the way. Join our family, the Home Trader Club, get your access to our full comprehensive complete trading courses, real-time trading education and real-time trading opportunities.
