Forex Market Analysis - EUR/GBP currency pair steady higher than 0.8700, maintains its neutral bias below 0.8800
1. Euro reversal from 0.8789 finds support higher than 0.8700.
2. The EUR/USD pair remains trapped between 0.8700 and 0.8800 for the fourth week during a row.
The euro’s reversal from Thursday’s high at 0.8789 has been contained higher than 0.8800 on Friday that leaves the currency pair moving sideways, trapped among a hundred pips vary for the fourth consecutive week.
EUR/GBP currency pair remains neutral with euro and pounds underperforming
The EUR/GBP pair remains forex trading sideways reflective of the general weakness of the euro ad British pound. The common currency has been hit by the German Supreme Court ruling, calling the ECB to justify bond purchases that have triggered considerations regarding the Bank’s financial policy plans to support the EU economy.
The pound, however, has done not the profit from a softer euro. With the United Kingdom insulation most European countries to start out easing COVID-19 restrictions and with Brexit uncertainty still looming, UK’s mid-term economic outlook remains shady. This can be advisement of the pound across the board.