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Instrument: EURGBP
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 0.84940 with take profit at 0.85025.
Bearish Preference:
A Sell position is envisaged if price trades below price 0.84691 with take profit at 0.84611.
Fundamentals:
All DAY G20 Meetings
Comment: The UK GDP monthly release showed that the economy expanded less-than-expected in August, arriving at 0.4% vs. 0.5% expectations and 0.1% previous.this is mainly because of downwardly revised data for the manufacture of motor vehicles, oil and gas, and changes to how health output is measured. On Tuesday, European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau reminded markets that concluding the Pandemic Emergency Purchase Programme will not be the end of the “very accommodative” policy. He noted that risk remains they could fall short of the 2023 inflation target and added this situation would call for continued monetary support.
Analysis: SCRUM Team
