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Old 05-22-2018, 04:37 AM
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Join Date: Feb 2018
Posts: 24
Default EUR/GBP: bears in control, target 0.8620

EUR/GBP has moved into a consolidation as the pressure on sterling finally eases off after the opening slide that started out in Asia from 1.3473 to 1.3390 (London lows). There was a late afternoon bid in London that sent sterling higher to 1.3438 in early NY trade. Currently, the cross is trading at 0.8767, with a high of 0.8774 and a low of 0.8725.

Markets are repositioning and most of that activity is being traded through the dollar, starting out heavily bid to 94.05 highs (DXY) where US 10 year yields topped at 3.08%. US stocks rallied to a two-month high and gold dropped to a fresh 2018 low, all of which comes on the heels of Mnuchin saying on the weekend that the China trade clash is ‘on hold’.

European Fundamentals at play

The risk-on sentiment helped European shares mostly higher while major markets in France, Germany, and Switzerland were closed. The key focus is Italy and the implications for what the populist coalition means for markets, Italy and the eurozone in the near and longer term - (The third largest European economy's proposed coalition government promised a mix of far-right, anti-establishment and eurosceptic policies).

Right now gbp to euro rates is 0.8779
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Old 07-23-2018, 05:13 PM
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Join Date: Jul 2018
Posts: 23

I agree. EUR/GBP have a consolidation
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