EUR/GBP: set buy order (MIG Bank)
EUR/GBP has been rising for the fourth day in a row. Sterling headed for its biggest weekly decline versus euro in more than 3 months as data this week showed British retail sales unexpectedly fell in April and inflation slowed more than economists expected. The Bank of England markets director Paul Fisher said policy makers must continue to provide support to the economy. Euro area data, on the other hand, exceeded the forecasts.
Analysts at MIG bank recommends setting buy stop at 0.8641 with objectives at 0.8697/0.8789/0.9038 and stop at 0.8585.
Chart. Daily EUR/GBP