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Thoughts on EUR/GBP?


Nick Ranga

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Hi Nick. I want to firstly say that I am a macro trader. And so, I don't really focus too much on the technical aspect on charts. However, my opinion on the pair is that we will see it head lower first.

Reasons being are that we have just seen the potential for a BoE rate cut at the next meeting fall, which means traders and investors will now have to price in  a lower chance of a cut at the next meeting.

Another reason is, of course, Brexit. Now that the withdrawal agreement has passed, the UK can focus on trade deals. Of cours with the EU but also with other countries. And I believe they will be starting talks with Japan soon.

We have also seen talks of investment flowing back into the country which will only be good for the GBP.

So all in all, i think the reasons above will strengthen the GBP, especially in the long term. I don't expect us to get towards 0.90 at all. Although who knows, I could be wrong, markets are funny that way.

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