Fundamental and Analysis: Pound is benefited from specualte news

On Daily timeframe, we see a possible entry in short position!!! Now, the Daily's candlestick was closed with a bearish hammer inverted an that could's be a bearish signal.

Now, on H4 timeframe we could to form a distributtion zone to sell Euro in the blue zone, that represent a monthly zone. So, the only what I hope is a next bearish candlestick to entry in short position in H4 timeframe. I do not analyze H1 here, because most enfocous in in Daily, and then, we see a possible drop of the price. Why a drop of the price??? Below of this paragraph I add the fundamentals key for the Euro and Sterling Pound:

Fundamentals Keys:

A. Euro:

1. Eurozone Industrial Production Data Fails to Impact Pound Euro a smaller than expected contraction in Eurozone Industrial Production failed to prevent the Pound Euro Exchange Rate from recoverying ground.
2. Euro is vulnerable to soptening German Economic Sentiment.
*That data and point is strategist important to understood.*
3. The forecast point towards a decline in confidence on the month, dropping the index from 71.5 to 69.8 and leaving the single currency exposed to sell it.
4. The evidence that German economic sentiment is soured this month may fuel fears that some of the earlier momentum has already started to fade.
5. If the Eurozone's powerhouse economy fails to hold, that matter an initial bout of recovery seen in the wake of the covid-19 crisis the single currency coud falter. That mentioned a risk about the 2nd wave of infections rising any fresh signs of weakness within the Eurozone economy may drive the Euro to trend lower.
6. The Eurozone Industrial Production falls to -7.7% on July of the compared of 4.1% on June. That show a lower data of the Eurozone Industrial in all in the nation as manufacturer, jobs and a lot thing use as data to recopiled.
7. This despite a signs that the Eurozone's economic recovery may be slowing. That data showing that investor that a V-Shaped recovery was becoming less likely

B. Sterling Pound:

1. Pound is benefits from growing opposition to UK's internal Market Bill
2. The mood toward to Pound picked up at the start of the week as market jitters over Boris Johnson proposed internal market temporaly eased.
3. Increasing domestic opposition to the bill, which violate parts of the existing withdrawal agreement, offered investor reason to buy back into the weakened Pound.
4. Althought it remains to be seem whether parliament will choose to vote down the bill this still encouraged hopes that relations between the U.K. and European Union could recover in the weeks ahead.
5. The demand for the Pound could soon falter once again as markets brace for the latest raft of the UK labour market data
6. The U.K. Government support withdrawals any uptick in unemployment data to heavily the Pound as the UK labour market set to the under increasing
7. On Thursday, there will be the meeting of the Bank of England about the U.K. monetary policy.
8. That still the Pound to making any significant gains agains its rivals in the near term

Ok guys, in summary, I believe that we need to buy Pound because the U.K. government is prepared to support withdrawal the unemployment data to heavily and open the U.K. labour market, that could be the strategy that Boris Johnson wanting to plan soon and to go ahead of the Brexit deal while the Germany pass for the bad news making an Euro vulnerable

Also, in the economical calendar we have tomorrow in the London Session these news for this par to look out:
1. Average Earnings Index + Bonus (GBP)
2. Claimant Cound Change (GBP)
3. Uemployment change (GBP)
4. German ZEW Economic Sentiment (EUR)

So, that news support more the Pound making a benefit about the week for the Pound.

For tomorrow, I will going to check Euro/ U.S. Dollar to know, because if you noticed in my key fundamentals for Euro, there will be to starting fears of the second wave of covid-19 in the Eurozone and obviosuly the data of the Eurozone industrial production is failled as other data its became of pattern fears.

Rememeber and more imporant, we need to stay alert of the price action!!!

Trade active:

Hello. On H4timeframe alreaeydy we have the short position co firmed. Right now, the price has descending in the good zone to entry in short position on H4 timefra.eme.

At the moment we have our evening star candlestick formed so nice!!!

Good luck!!!

Trade closed manually:

Hello guys. At the moment. The trend is reversal. GBP is fown and EUR id down. Please clow3d uo the long position on GBPUSD ans put to short position. And closed up the short position on EURGBP and put in long position in this par right now!!!