EURGBP - I'm seeing nothing but a continuation to the upside
Euro Pound has been super messy of late, but after last week's respective Central Bank news and immediate future stance, I think it'll be a clean bullish continuation from here.
ECB hiked rates by 0.50% last week and said there will likely be the same next time out.
BoE also hiked by 0.50% but were much more dovish in their statement. I think it's pretty clear (if you live in the UK) that our economy is under enough pressure (cost of living, output, retail sales, you name it) without another 0.50% hike, I just don't think the BoE would / could do it (regardless of inflation).
Current price is above all of my MA's, I think we'll see a continuation close to testing last September highs in the coming week or so.
ECB hiked rates by 0.50% last week and said there will likely be the same next time out.
BoE also hiked by 0.50% but were much more dovish in their statement. I think it's pretty clear (if you live in the UK) that our economy is under enough pressure (cost of living, output, retail sales, you name it) without another 0.50% hike, I just don't think the BoE would / could do it (regardless of inflation).
Current price is above all of my MA's, I think we'll see a continuation close to testing last September highs in the coming week or so.
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Active 0.886 TP 0.91 SL 0.87225