EURGBP trend forecast January 31, 2025
The EUR/GBP pair bounces back to around 0.8370 in early European trading on Thursday, ending a five-day losing streak. However, the upside may remain limited due to the European Central Bank's (ECB) dovish stance. Market participants will focus on the ECB’s interest rate decision and the preliminary Eurozone Gross Domestic Product (GDP) data for the fourth quarter, both set for release later in the day.
The ECB is widely expected to lower its key interest rate by 25 basis points (bps) to 2.75% at its January meeting, while signaling the possibility of further rate cuts in response to economic uncertainty and persistent inflation concerns. This could put additional pressure on the Euro (EUR) against the Pound Sterling (GBP). In 2024, the ECB cut rates four times, and analysts anticipate up to four more reductions this year.
Downtrend maintained, continue waiting for price to drop deeper
/// SELL EURGBP : zone 0.83700 - 0.83800
SL: 0.84100
TP: 40 - 70 - 100pips ( 0.82800 )
Safe and profitable trading
The EUR/GBP pair bounces back to around 0.8370 in early European trading on Thursday, ending a five-day losing streak. However, the upside may remain limited due to the European Central Bank's (ECB) dovish stance. Market participants will focus on the ECB’s interest rate decision and the preliminary Eurozone Gross Domestic Product (GDP) data for the fourth quarter, both set for release later in the day.
The ECB is widely expected to lower its key interest rate by 25 basis points (bps) to 2.75% at its January meeting, while signaling the possibility of further rate cuts in response to economic uncertainty and persistent inflation concerns. This could put additional pressure on the Euro (EUR) against the Pound Sterling (GBP). In 2024, the ECB cut rates four times, and analysts anticipate up to four more reductions this year.
Downtrend maintained, continue waiting for price to drop deeper
/// SELL EURGBP : zone 0.83700 - 0.83800
SL: 0.84100
TP: 40 - 70 - 100pips ( 0.82800 )
Safe and profitable trading
Trade active
Great : + 20 pips profit SELL EURGBP ( 0.83700-0.83800 ) Trade closed: target reached
Still the Sideway in the profit Entry Sell EURGBP
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MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.