EURGBP - Bearish BiasEUR - BEARISH
1️⃣ As rising coronavirus infections remain in the spotlight and enthusiasm over a working vaccine fades.
2️⃣ In Germany, the federal government and regional leaders will meet again in a week to discuss the need of further restrictions.
3️⃣ The Eurozone consumer prices dropped 0.3% from a year earlier in October 2020, matching the previous month's decline.
GBP - BULLISH
1️⃣ Optimism surrounding a post-Brexit trade deal as Britain's chief negotiator David Frost told Prime Minister Boris Johnson to expect an agreement with the EU as soon as early next week.
2️⃣ Annual inflation rate in the United Kingdom jumped to 0.7% in October of 2020 from 0.5% in September, and above market expectations of 0.6%.
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Technical
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We are looking to sell the EURGBP at the resistance of 0.89550 + below SMA 50 on H1 chart.
