EURGBP Looking Bullish with UK Recession
-0.6% MoM CPI and now technical recession with 0.3 shrinking on quarterly basis. UK data this week was very weak but recently and EURGBP trying to find support from 0.85.
The weak data, bulish RSI divergence and the 0.85 support all create a buying oppurtunity. 0.8560 could be the trigger for upward moves. Below 0.85 however will change the positive outlook for the short term as the main theme is still a decending triangle so far.
The weak data, bulish RSI divergence and the 0.85 support all create a buying oppurtunity. 0.8560 could be the trigger for upward moves. Below 0.85 however will change the positive outlook for the short term as the main theme is still a decending triangle so far.
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