EURGBP Long Idea
Inflation in the Eurozone remains at 2.6%, which could potentially make the ECB more cautious about cutting interest rates.
Meanwhile, in the UK, inflation has dropped drastically to 2.2% at present, indicating that the Bank of England's mandate target is nearing. It is highly likely that the BoE will cut interest rates further, potentially by more than 25 basis points.
In the EUR/GBP pair, there is a significant potential for upward movement even though it is currently in a sideways trend on a larger timeframe.
Buy : 0.84050
Stoploss : 0.83700
Take Profit : 0.86150
Meanwhile, in the UK, inflation has dropped drastically to 2.2% at present, indicating that the Bank of England's mandate target is nearing. It is highly likely that the BoE will cut interest rates further, potentially by more than 25 basis points.
In the EUR/GBP pair, there is a significant potential for upward movement even though it is currently in a sideways trend on a larger timeframe.
Buy : 0.84050
Stoploss : 0.83700
Take Profit : 0.86150
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