EUR/GBP Poised for Seasonal Upswing as July Begins
As July kicks off, the EUR/GBP pair is entering a period of seasonal strength, supported by historical trends and favorable technical indicators. Historically, EUR/GBP has shown a tendency to perform well during this time of year, and this seasonality is further bolstered by the latest Commitment of Traders (COT) report. The report indicates that the Euro is currently the preferred asset among institutional investors, often referred to as "smart money."
Recently, the EUR/GBP pair rebounded from the 0.8400 support level, a critical area that has provided a strong base for price action. This rebound, coupled with the seasonal patterns and smart money positioning, presents a compelling case for a bullish setup.
Given these factors, we are now looking for opportunities to enter long positions on the EUR/GBP pair, anticipating continued strength in the Euro as the month progresses.
Recently, the EUR/GBP pair rebounded from the 0.8400 support level, a critical area that has provided a strong base for price action. This rebound, coupled with the seasonal patterns and smart money positioning, presents a compelling case for a bullish setup.
Given these factors, we are now looking for opportunities to enter long positions on the EUR/GBP pair, anticipating continued strength in the Euro as the month progresses.
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