EUR./GBP gains some follow-through traction and climbs to a near two-week high on Friday. Bets for more aggressive policy easing by the BoE undermine the GBP and remain supportive.
EUR./GBP gains some follow-through traction and climbs to a near two-week high on Friday. Bets for more aggressive policy easing by the BoE undermine the GBP and remain supportive. An upward revision of the UK Construction PMI does little to provide any meaningful impetus. The EUR/GBP cross prolongs this week's goodish bounce from the 0.8530 support area for the fifth straight day and climbs to a one-and-half-week high during the first half of the European session.
Spot prices currently trade around the 0.8585 region, with bulls now awaiting a sustained strength beyond the 100-day Simple Moving Average (SMA) before positioning for any further gains. The British Pound (GBP) continues with its relative underperformance in the wake of rising bets for at least four interest rate cuts this year by the Bank of England (BoE), starting in June, which, in turn, is seen acting as a tailwind for the EUR/GBP cros
EUR/GBP Boe Policy Easing GBP UK Construction PMI European Session Spot Prices Simple Moving Average Interest Rate Cuts
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