EUR/GBP: bought opportunityEuro/Pound look bullish in this side that look interesting to long, the price action had 2 opportunities to buy in this zone, but a long posiiton could be a good idea to going with the trend in H1 timeframe. I open a long position in the market price in £0.8834 GBP and SL in £0.8813 GBP and take profit in £0.8900 GBP. This will be a risk/benefit of 1:3. It's an excellent opportunity here to long EUR/GBP.
Now, I hope this market structure that pass in the next days to watch to continue to the bullish side toward £0.90 GBP.
Speculating News to follow the trend:
1) Pound struggling amidst equity market pull back as the falling stock market are weighing on the British Pound with analyst saying an ongoing debate over U.S. interest rates appear to be behind the moves.
2) Many investors have been expecting of late that Federal Reserve suggested interest rates would stay higher as global stock market wil continue fell.
3) Around the world, there're some implies further difficulties for businesses based that FED monetary tightening and hot inflation that make therefore largely supportive for Dollar in 2022 and hopes in 2023
4) Eurozone economy won't contract in 2023 says Goldman Sachs following a review of its forecast, UK economy is still expected to suffer a technical recession.
So, speculating news speak that Pound doesn't change in the panoramic that UK has a difficulties in the economy and Goldman Sachs see that the movement that make Pound it's very correlated behind the Dollar. And also, there're some points that I share here that it's talking a recession in UK in 2023, but everything will depend into the dynamic economy that support the UK government and also their UK economy. And also, it's talking that U.S. Dollar it's not in the bearish trend, it's just a correction in the market, but Goldman Sachs make interference that FED will tightening their interest rates and would stay more higher. But this point, will make any break-out in some market like stocks as those will continue fall, in case of crypto will be very correlated with stocks market by nature, but Gold it's staring to break-out the correlation with financial market. And this look an interesting panoramic what happen in this week.
So guys, I hope that this idea, speculating news and analysis support you and open your mind to found out new clues.
Good luck!!!
