Home EUR/GBP: Could Test Lower Towards 0.86 In The Coming Days – Danske
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EUR/GBP: Could Test Lower Towards 0.86 In The Coming Days – Danske

The euro is suffering from the slowdown in Europe while the pound rises on hopes for a softer Brexit. What’s next for EUR/GBP?

Here is their view, courtesy of eFXdata:

Danske Research discusses EUR/GBP outlook and sees a scope for a move lower towards 0.8600 in the near-term.

“GBP outperformed in the G10 space yesterday supported by a technical break above 1.30 in GBP/USD. While uncertainty related to Brexit remains high, the risk of a ‘no deal’ Brexit appears to be fading, which has improved appetite for GBP. We reckon that the past week’s rally in GBP is fair given that the ‘post Brexit’ outcome distribution for EUR/GBP looks increasingly skewed towards the downside,” Danske notes.

Momentum is strong and with risks skewed towards the downside for EUR, EUR/GBP could still test lower towards 0.86 in the coming days,” Danske adds.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.