Instrument: EURGBP
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 0.87011 with take profit at price 0.87089.
Bearish Preference:
A sell position is envisaged if price trades below price 0.86902 with take profit at price 0.86821.
Fundamentals:
None with high Impact
Comment: Good news largely in the price for GBP with the UK’s vaccine advantage diminishing. Yesterday, Germany vaccinated a record 1.1% of the population in one day. That being said, there are some positives for the Pound to consider. As is mentioned above, there is a good chance that the BoE announce a tapering of QE purchases, while UK/German 5Y real yields also point to lower EUR/GBP.
Analysis: SCRUM Team