2024-12-14 15:13
IndustryEuropean Update
$EURGBP appears poised for a potential test of 0.83.
The pair has reclaimed the 0.8276 level decisively, settling near the lower end of this range. If dips around this area start finding support, the recent breakdown could prove to be a temporary blip.
A sustained move above 0.83 could trigger further short covering, opening the door to targets like 0.8335/40 and potentially 0.8360/70. However, if 0.83 holds as resistance, a return toward recent lows remains on the table.
Looking ahead, next week brings a heavy slate of UK economic data and the #BOE decision. If the upcoming releases echo the strength of this morning’s data, the balance of risks may shift toward 0.84 rather than 0.82.
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European Update
$EURGBP appears poised for a potential test of 0.83.
The pair has reclaimed the 0.8276 level decisively, settling near the lower end of this range. If dips around this area start finding support, the recent breakdown could prove to be a temporary blip.
A sustained move above 0.83 could trigger further short covering, opening the door to targets like 0.8335/40 and potentially 0.8360/70. However, if 0.83 holds as resistance, a return toward recent lows remains on the table.
Looking ahead, next week brings a heavy slate of UK economic data and the #BOE decision. If the upcoming releases echo the strength of this morning’s data, the balance of risks may shift toward 0.84 rather than 0.82.
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