Short EURGBP
EURGBP pair has been moving in a downward channel. There are a number of reasons for the EURGBP's recent weakness. One reason is the divergence in monetary policy between the European Central Bank (ECB) and the Bank of England (BoE). The ECB has been slower to raise interest rates than the BoE, which has led to a widening in the interest rate differential between the two currencies. This has made the euro less attractive to investors, as they can earn a higher yield on their investments by holding sterling.
Another reason for the EURGBP's weakness is the ongoing war in Ukraine. The war has caused a humanitarian crisis and has also had a negative impact on the European economy. This has led to increased uncertainty and risk aversion, which has weighed on the euro.
The EURGBP pair is currently trading at around 0.87, the next potential target for the EURGBP pair is 0.866 as it is moving in the channel.
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Another reason for the EURGBP's weakness is the ongoing war in Ukraine. The war has caused a humanitarian crisis and has also had a negative impact on the European economy. This has led to increased uncertainty and risk aversion, which has weighed on the euro.
The EURGBP pair is currently trading at around 0.87, the next potential target for the EURGBP pair is 0.866 as it is moving in the channel.
Hope you like the idea. Do comment, like and follow for more such ideas and targets.
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