📊 Technical Analysis
● EUR/GBP has bounced off the lower boundary of its descending channel around 0.8600, forming a short-term higher-low signal.
● A rally above the sloping resistance (former mid-channel line near 0.8620) would validate the bounce and likely extend gains toward 0.8670 resistance.
💡 Fundamental Analysis
● UK GDP growth of 0.3% in Q2 exceeded forecasts and boosted sterling resilience, tempering rate-cut expectations from the Bank of England. Market sentiment sees fewer BoE cuts ahead.
● Mixed UK labor data—slower hiring but sustained wage growth—reinforces the BoE’s cautious stance, supporting GBP rather than encouraging dovish easing.
● Meanwhile, investors expect ECB rates to stay "higher for longer," reducing pressure for euro weakening despite prior policy divergence.
✨ Summary
Long above 0.8620; target ~0.8670. Setup invalidated if price closes below 0.8600.
-------------------
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● EUR/GBP has bounced off the lower boundary of its descending channel around 0.8600, forming a short-term higher-low signal.
● A rally above the sloping resistance (former mid-channel line near 0.8620) would validate the bounce and likely extend gains toward 0.8670 resistance.
💡 Fundamental Analysis
● UK GDP growth of 0.3% in Q2 exceeded forecasts and boosted sterling resilience, tempering rate-cut expectations from the Bank of England. Market sentiment sees fewer BoE cuts ahead.
● Mixed UK labor data—slower hiring but sustained wage growth—reinforces the BoE’s cautious stance, supporting GBP rather than encouraging dovish easing.
● Meanwhile, investors expect ECB rates to stay "higher for longer," reducing pressure for euro weakening despite prior policy divergence.
✨ Summary
Long above 0.8620; target ~0.8670. Setup invalidated if price closes below 0.8600.
-------------------
Share your opinion in the comments and support the idea with like. Thanks for your support!
Trade closed: target reached
Closed +50 PIPS
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🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
90% accuracy in telegram
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.