EUR - BEARISH
1️⃣ Investors turned to bond yields and the dollar after the US Senate passage of a $1.9 trillion stimulus bill.
2️⃣ The euro has been also under pressure as investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery.
3️⃣ Remarks from a number of European Central Bank policymakers this week suggested the bloc's monetary authority stands ready to provide more stimulus if needed to keep yields down and support the economy.
4️⃣ The Eurozone economy shrank by 0.7% in the fourth quarter of 2020, following a record 12.4% expansion in the previous three-month period and an unprecedent 11.7% contraction in the second quarter due to the COVID-19 crisis.
GBP - BULLISH
1️⃣ Bank of England Governor Andrew Bailey reiterated that negative rates are off the cards. Bailey also said that his assessment of Britain’s economic outlook was "positive but with large doses of cautionary realism."
2️⃣ Investors hoped for a quicker economic recovery in the UK due to the continued success of the UK's vaccination rollout programme coupled with massive fiscal and monetary stimulus packages.
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Technical
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We are looking to sell the EURGBP at SBR + below SMA 50 on the H1 chart.
1️⃣ Investors turned to bond yields and the dollar after the US Senate passage of a $1.9 trillion stimulus bill.
2️⃣ The euro has been also under pressure as investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery.
3️⃣ Remarks from a number of European Central Bank policymakers this week suggested the bloc's monetary authority stands ready to provide more stimulus if needed to keep yields down and support the economy.
4️⃣ The Eurozone economy shrank by 0.7% in the fourth quarter of 2020, following a record 12.4% expansion in the previous three-month period and an unprecedent 11.7% contraction in the second quarter due to the COVID-19 crisis.
GBP - BULLISH
1️⃣ Bank of England Governor Andrew Bailey reiterated that negative rates are off the cards. Bailey also said that his assessment of Britain’s economic outlook was "positive but with large doses of cautionary realism."
2️⃣ Investors hoped for a quicker economic recovery in the UK due to the continued success of the UK's vaccination rollout programme coupled with massive fiscal and monetary stimulus packages.
=====
Technical
=====
We are looking to sell the EURGBP at SBR + below SMA 50 on the H1 chart.
Order cancelled
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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.