![Close-up of market chart](/en-uk/-/media/research/global/news-analysis/featured-image/2021/03/charts4v2.jpg)
GBP/EUR edges higher with inflation in focus
GBP/EUR is attempting to claw higher after UK CPI inflation missed forecasts. UK CPI printed at 3.1% in September down from 3.1% and short of forecasts of 3.2%. However, this remains well above the BoE’s 2% target.
Eurozone inflation is very much in focus with German PPI expected to show 12.7% YoY rise in September, up from 12% in August.
Eurozone CPI is also due; this is a final revision so potentially not as market moving. Expectations are for 1.9% YoY rise, up from 1.6% in August. ECB speakers will also be in focus.
Any gains in the Euro could be limited owing to the dovish ECB
Learn more about the EuroWhere next for EUR/GBP?
EURGBP trades below its 50 & 200 sma on the 4 hour chart and below its falling trendline dating back to late September. The price has found a floor for now at 0.8423, the October low.
The RSI is pointing higher but remains in bearish territory suggesting that this could be a corrective pick up.
The pair is approaching the falling trendline resistance at 0.8445, bringing the weekly high of 0.8460 into focus and exposing the 50 sma at 0.8465. A move above here would negate the near-term bearish bias. It would take a move above 0.85 horizontal resistance for buyers to gain traction.
Rejection at the trendline resistance could see the pair retest 0.8425 bringing 0.8390 the January ’20 low into play.
![EURGBP Chart](/en-uk/-/media/research/global/fc/2021/10/eurgbp2010ci.png)
Tesla Q3 earnings after the close.
Tesla is due to report after the market close. Tesla has already disclosed deliveries of 241,300 in Q3 a new record, up 20% on the previous quarter.
Thanks to the delivery numbers, revenue is expected at around $14.005 billion.
Whilst Tesla reinvests most of its money into growth, a profit is still expected. EPS is expected at $1.59.
Read in dept about what to expect from TeslaWhere next for Tesla share price?
Tesla has broken out of its ascending dating back to mid-May. It trades above its 50 & 200 sma in a clearly bullish chart.
The RSI is firmly in overbought territory some consolidation or an ease back at some point could be on the cards.
Tesla is has been probing a key resistance level at $870 -$880 the February high. A close above this level could cement the way towards $900 amd fresh all-time highs.
Meanwhile, it would take a fall below $765 to change the bullish bias and for bears to gain traction towards $740 the 50 sma and the lower band of the rising channel.
![Tesla chart](/en-uk/-/media/research/global/fc/2021/10/tesla20ci.png)
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