Today the pound is no way affected by any economic indicators, but in the eurozone we expect a number of economic indicators, including the consumer price index for October and GDP figures for the last three months. Output data rates may contribute to the strengthening of the euro.
The situation with Catalonia ceased to exert such a strong influence on the single currency, so that at the moment we expect that the situation in the region will stabilize, which will also support the euro.
The pair has a downward momentum and we need to find the entry point for a short position. Our moving averages also indicate a formed downtrend. The point of entry must be sought near the resistance levels for the pair.
Expect that in the medium term the price will test the level of 0.8745.
