Nick Ranga Posted January 23, 2020 Share Posted January 23, 2020 What are everyone's thoughts on EUR/GBP? Will it rise? RSI is dipping below 30 on the daily chart. It looks ready to swing back towards 0.90 territory Quote Link to comment Share on other sites More sharing options...
0 Djamel Brahimi Posted January 24, 2020 Share Posted January 24, 2020 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. Quote Link to comment Share on other sites More sharing options...
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Nick Ranga
What are everyone's thoughts on EUR/GBP? Will it rise?
RSI is dipping below 30 on the daily chart. It looks ready to swing back towards 0.90 territory
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