Buy EURGBP at any price between 1.8405 till 1.8430
📊 EURGBP Analysis
EURGBP breaking the lower high area of the falling wedge in the daily timeframe chart.
Target 1: 0.8635
Target 2: 0.8695
Target 3: 0.8760
Target 4: 0.8840
Target 5: 0.8920
Stop Loss: 0.8500
Please follow below signal rules
📍 After the signal reaches Target 1, close some trade positions and change your Stop Loss price to entry price for chasing further targets with ZERO risk.
📍 Within 2 days (Signal day + Next Working Day AEDT time), if signal doesn’t reach target 1 and If the trade is…
Entry Range = Close the Trade
in profit = Change SL to Entry
in loss = Change TP to Entry
If you know the signal rules, Attend this short 2 minutes signal quiz to handle the signals more easily: https://www.forexgdp.com/follow/#quiz
If you have not read the signal rules, read them here: https://www.forexgdp.com/follow/
Check Result/Performance of the signals here
EURGBP News Analysis
Geopolitical Tensions
Tensions in the Middle East have flared up, adding to market jitters. The situation escalated when Iran-backed Hezbollah launched missiles at Israel, following the assassination of a Hamas leader by an Israeli airstrike. This conflict has heightened fears of a broader regional conflict, which could further destabilize global markets.
GBPUSD is moving in Ascending channel and market has reached higher low area of the channel
US Economic Uncertainty
The potential for a US recession looms large, and market participants are concerned about the ripple effects this could have on the global economy. The US Dollar has steadied as investors seek safe-haven assets, further pressuring risk-sensitive currencies like the Pound Sterling.
Bank of England’s Next Moves
Looking ahead, the Pound Sterling’s trajectory will be heavily influenced by the Bank of England (BoE) and its monetary policy decisions. Recently, the BoE cut interest rates by 25 basis points, bringing them down to 5%. The decision was made with a 5-4 vote split, indicating some dissent among policymakers.
The BoE’s cautious approach suggests that further rate cuts could be on the horizon, especially if the US economy continues to show signs of slowing. The UK central bank is navigating a challenging landscape, balancing domestic economic concerns with global uncertainties.
Final Thoughts
The Pound Sterling’s recent decline against the US Dollar reflects a complex interplay of factors, including US economic data, geopolitical tensions, and central bank policies. While the US economy shows mixed signals, with some growth amidst concerning data, the global market remains on edge. Investors and traders should keep a close eye on upcoming economic releases and geopolitical developments, as these will likely shape market sentiment and currency movements in the near term. As always, staying informed and cautious is key in navigating these uncertain times.
