Our free forex signals service today looks at the EUR/GBP and we have the entry, stop and take profits levels for you.
During the second half of this year, we anticipate the UK economy to continue to recover. The recovery will also be boosted because businesses are getting used to new trade links between the EU and the UK.
Due to vaccines, the link between hospitalizations and cases has been significantly weakened. So, despite the Eurozone’s challenges, we continue to expect the UK economy to do well this year.
In response to signs of rising inflation, the Bank of England (BoE) slightly widened its scope for tightening monetary policy at its August meeting.
The Bank of England also announced that it would slow down bond purchases later this year (the bonds are due to expire at the end of the year), indicating that quantitative easing cannot continue.
Ultimately, the Bank of England is more likely than the European Central Bank to tighten monetary policy first.
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A fall to 0.85 was expected for EUR/GBP. However, in light of the more optimistic outlook for the UK economy than for the Eurozone, we continue to expect EUR/GBP to trade lower in the coming months. Additionally, we expect tighter restrictions from the Fed and the BOE to support sterling.
EUR/GBP free forex signals
Instrument: EUR/GBP
Order Type: BUY STOP
Entry price: 0.8541
Stop Loss: 0.8504
TP1: 0.8623
Our Risk Setting: 1%
Risk / Reward Ratio: 1:2.24
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Saqib Iqbal
