In Monday’s trading session, the EUR/GBP pair has seen notable movements, reflecting changing market dynamics as traders anticipate upcoming economic indicators. Key Points: November 20, 2023 – The EUR/GBP pair has experienced a retreat to the 0.8750 level, after an unsuccessful attempt last week to reach a new high, highlighting the Euro’s relative weakness against […]
As the EUR/GBP navigates through a maze of economic data and central bank policies, traders are advised to exercise caution. The current market conditions call for a nuanced approach, focusing on both immediate data releases and long-term policy implications. With key economic indicators and policy decisions in the pipeline, the coming days are set to be pivotal for market participants.
The EUR/GBP is gaining traction, influenced by central bank policies and economic data. While the BoE contemplates a rate hike, the UK’s CPI comes in lower than expected. The BoE’s next move and upcoming economic data will heavily influence the pair. Technical analysis suggests a bullish trend, with potential resistance at 0.8700.
EUR/GBP hovers around 0.8550 amidst conflicting signals from ECB and BoE. ECB leaders are advocating for inflation control, while mixed UK spending data has the market uncertain. Technical analysis shows potential for both upward and downward movements, making upcoming economic indicators crucial for defining the pair’s direction.
The EUR/GBP currency pair continues to gain traction for a second straight day, despite mixed PMI prints from both the Eurozone and the UK. The disappointing UK Retail Sales figures and a negative surprise from the UK Manufacturing PMI add to the British Pound’s underperformance, acting as a tailwind for the EUR/GBP cross. While the Eurozone PMI data remains fairly strong, the rising bets for a Bank of England rate hike in May could cap further gains. Learn more about the factors driving the EUR/GBP cross and how they could impact your trading decisions.