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EURGBP Expectations: UK Inflation and BoE's Decision this Week EURGBP Expectations: UK Inflation and BoE's Decision this Week On Monday, the pound reached its highest level against the euro in 10 months, at 85.25 pence, as investors await the British inflation data and the upcoming Bank of England decision. However, the currency pair quickly rebounded to the support level of the previous week, at 85.42 pence, but is perhaps now tracking down again. In recent weeks, the sterling has experienced a rallied against the EUR and USD (particularly against the USD, marking its largest weekly gain since December 2022). This surge can be attributed to economic data suggesting that inflation in Britain is more persistent compared to the United States and Europe. As a result, traders have started factoring in more interest rate hikes from the Bank of England, leading to increased yields on British government bonds and bolstering the pound. Additionally, investors' expectations have been heightened by recent data showing a faster-than-anticipated growth in British wages. Currently, the pound is down 0.26% against the dollar, trading at $1.278. However, it remains close to the 14-month high of $1.285 reached on Friday. British inflation data is scheduled to be released on Wednesday. Economists predict that the headline Consumer Price Index will have slightly cooled to 8.5% year-on-year, down from 8.7% in April. However, they anticipate that the core CPI, which excludes volatile food and energy costs, will remain steady at 6.8%. If these figures align with expectations, the pound could strengthen further due to the anticipation of additional interest rate increases by the Bank of England. Nevertheless, any unexpected results could introduce volatility into the market, and perhaps validate the recent rebound in the EUR. On Thursday, the Bank of England will announce its decision on interest rates, with investors and economists expecting a 25 basis point hike to 4.75%. There is little uncertainty surrounding this decision, so traders will closely examine the bank's forward guidance. Indications of future interest rate hikes are likely to bolster the GBP.
by BlackBull_Markets
EURGBP sell at 0.87947 . Downward movement with Risk:Reward 2.6Hey Traders, hope you all are enjoying our ideas and analysis. Let us discuss EURGBP here. We can observe Breakout from the parallel channel in 30 minutes timeframe. We came up with Sell Trade with Risk:Reward ratio is 2.6 . Sell at 0.87947, with SL 0.88196 and Target 0.87330. NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. NOTE: RESPECT The risk. SL should not be more than 2% of the capital. Happy Trading
Short
by TanujaK
EUR/GBP Short analysismarket is currently downtrend in higher timeframe. here market has broken the LL and form an new LL which indicates that market will further continue downtrend. so the idea for this trade is also to sell the market from a high interest area, from the picture you can see that after market formed new LL it shoot up to fill the imbalance price left open and broken several structures but never retested so, i am keeping those imbalance price as target if market played out with my analysis. the trade idea originated when market after filled the extreme supply selloff heavily broken significant structures showing selling pressure so, i decided to look for short opportunity from there market after forming CHofCH left open an imbalance price where i am expecting market to retest and selloff heavily there was also a supply at the top of the move but i don't thing market will all the way up there to retest so, currently i am waiting for the market to retest my 30m supply then i will look for lower timeframe confirmation to enter in this trade. i hope you like the analysis do follow me for more such analysis
Short
by Rohit_Fx
EURGBP Trading Plan - 21/Jul/2022Hello Traders, Hope you all are doing good!! I expect EURGBP to go DOWN after finishing this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
Short
by For3xScalper
EURGBP Trading Plan - 10/Jun/2022Hello Traders, Hope you all are doing good!! I expect EURGBP to go Down after finishing this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
Short
by For3xScalper
💡Don't miss the great buy opportunity in EURGBP❤️ If you find this helpful and want more FREE forecasts in TradingView Please show your support back, Hit the 👍 LIKE button, Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCitysIGNAL Support Team ❤️
Short
by forexcitysignal