EURGBP - Bearish BiasEURO - Strong Bearish
1️⃣ Pressed by the strength of the US dollar.
2️⃣ Concerns about the spread of COVID-19 variant Delta in the region.
3️⃣ Investors digest the dovish tone from the recent ECB meeting.
4️⃣ In August 2021, ZEW economic sentiment in the European Zone fell by 18.5 points to 48.7 from the previous month’s 61.20.
GBP - Weak Bullish
1️⃣ The decline in infection cases and easing restrictions in the UK supports demand on the GBP.
2️⃣ The economy in Britain is expected to jump by 5.0% in the second quarter.
3️⃣ BOE policymakers raised inflation forecasts for 2021 and signaled that “moderate tightening” may be needed if the economy continues to improve.
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Technical
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We are selling the EURGBP below SBR levels.
