EUR/GBP may be reaching the bottom of its recent downtrend – ING

Noticias del mercado

28 noviembre 2023

EUR/GBP may be reaching the bottom of its recent downtrend – ING

EUR/GBP declined during Monday's session. Economists at ING analyze the pair’s outlook.

Bearish momentum in EUR/GBP may not last

We suspect the EUR/GBP pair may be reaching the bottom of its recent downtrend, as risk sentiment may start to soften into key US data and the UK fiscal event’s impact on markets wears off.

We expect increasing support for the pair around 0.8650 and at the 0.8640 100-DMA. When it comes to Cable, our view is very similar to that of EUR/USD; the probability of a correction from these levels appears rather high.

Austria Purchasing Manager Index increased to 42.2 in November from previous 41.7

Euro comes under pressure and recedes to 1.0940, focus on US data, Fedspeak

Enfoque del mercado

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