EUR/GBP Appears Bullish in the Upcoming Months

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Through analysis of EUR/GBP’s latest trend, we found the pair will likely remain bullish in the upcoming months. News has been around that the British government plans to issue more government bonds and further implement expansionary fiscal policies in 2020. Therefore, the market is reassessing the possibility for the British government to cut interest rate and it’s estimated that a 0.25% rate cut will soon take place.

The pound sterling will be navigating through domestic economy, central bank policies and most of all, the financial budget to be released this March, in the first half of 2020. Also, Brexit negotiation is only at its beginning and whether a free trade deal can be successfully concluded will be crucial.

EUR/GBP daily pivot points: 0.8496---0.8502 

S1: 0.8465                  R1: 0.8527

S2: 0.8437                 R2: 0.8561

Edited January 10, 20206 yr by Anzo Lim