28.10.202416:32 Forex Analysis & Reviews: EUR/GBP. Analysis and Forecast

Relevancia 07:00 2024-10-29 UTC--4

Esta información se proporciona a clientes minoristas y profesionales como parte de comunicación de marketing. No contiene y no debe interpretarse como asesoramiento o recomendación de inversión o una oferta o solicitud para participar en cualquier transacción o estrategia en instrumentos financieros. El desempeño pasado no garantiza o predice el desempeño futuro. Instant Trading EU Ltd. no asume ninguna representación ni responsabilidad sobre la precisión o integridad de la información proporcionada, o cualquier pérdida que surja de cualquier inversión basada en el análisis, pronóstico u otra información proporcionada por un empleado de la Compañía o de otra manera. El descargo de responsabilidad completo está disponible aquí.

Following comments from European Central Bank (ECB) board member Pierre Wunsch regarding inflation, the EUR/GBP pair began to gain positive momentum. Wunsch stated that temporary and minor deviations from the inflation target due to energy price fluctuations are acceptable. He also mentioned that discussing the December policy decision is premature, and further monetary easing is not immediately necessary. These remarks are considered a primary factor in supporting the EUR/GBP pair.

Additionally, the rise may be driven by technical buying near the 0.8300 level, which has provided solid support for spot prices since the end of September. However, the pair's growth potential remains limited due to expectations of more aggressive ECB rate cuts, confirmed by a drop in Eurozone consumer inflation below the 2% target for the first time since June 2021 and sluggish economic growth.

On the other hand, the British pound is supported by expectations that the Bank of England's rate cuts will proceed more gradually than in the Eurozone.

With no major economic data scheduled for release today, the pair's volatility and direction remain limited. Traders should await the release of preliminary Consumer Price Index data from Germany and the Eurozone on Wednesday and Thursday, respectively.

From a technical perspective, daily chart oscillators indicate downward momentum, so it is too early to anticipate a recovery in the EUR/GBP pair from its September lows.

Volver a la lista

Abra una cuenta de operaciones

¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.