forex EUR/GBP：EUR/GBP is Rallying as Bearish Trend for the Sterling Ends

[Anzo Lim 0]

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As the UK general election settles down, the bearish trend for pound sterling may also come to an end, signaling a rally of the EUR/GBP; currently the market is focusing on how the government amend the Brexit bill.

 

Econometric models show that there is a significant risk premium for the pound, the Swedish krona, and the New Zealand dollar, indicating a growing down-slope trend; the exchange rate of the pound is about 1% higher than the fair value. So as euro bottom out against the pound near 0.8280 level,it is believed that the currency pair will start a strong rebound and eventually rise in the future.

 

EUR/GBP daily pivot points 0.8440-0.8474 

S1 0.8405                R1 0.8543

S2 0.8319                R2 0.8595

 

Edited December 18, 2019 by Anzo Lim