Today, we can observe a quite different dynamics when it comes to the single European currency and the British pound. In Europe, the second GDP estimate for the fourth quarter was already released, and growth is expected to increase from 2.6% to 2.7% which is a good signal for the single European currency. But the UK data on the credit market and the consumer lending momentum slow down from 1.4 billion pounds to 1.3 billion pounds, hence, the number of issued mortgages may decrease from 65,139 to 63,500.
The currency pair euro/dollar is working out the range of the 1.2550 level, then move to the correction stage and currently in the value of 1.2350. It is possible to assume that the bearish interest can be maintained, but at the 1.2320 / 1.2300 regions would feel temporary support with stagnation.
The currency Pound/Dollar moves near the impulse downward candles and drove very close to the psychological level of 1.4000. It is possible that the downward interest will continue, and if the price fixes below the 1.3985 area, we will continue to reach the zones of 1.3920 / 1.3900.
* The presented market analysis is informative and does not constitute a guide to the transaction.