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EUR/GBP FORMS A DESCENDING TRIANGLE

EURGBP forms a Descending Triangle on a Daily Time Frame, If price breaks out above from the triangle @ 0.87540 we see a bull taking the price upward, otherwise,if price breaks below the triangle @ 0.85259 we see more drops…….

Macroeconomic data weakened further in the United Kingdom and political uncertainty will likely continue to weigh on the economy, explained analysts at Danske Bank. They expect the Bank of England (BoE) to deliver a cut in January to support demand and expect a mild weakening in the pound.

With the Brexit process sidelined ahead of the December general election, focus is now moving towards economic fundamentals.

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24 Nov 2019 2:37 pm Posted by admin