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EURGBP : Cup with handle formation on the daily chart

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

EURGBP Forecast And Technical Analysis October 30th

Fundamentals:

ECB meeting and Draghi's speech draw the mid-long term route for EURO.
ECB will reduce its bond purchases to € 30 billion starting in January 2018 within the market expectation
Although this decision was meeting with the market's expectation, an open door to possibility of extension of the purchases may put Euro under pressure more than expected.
On the GBP side, as well as good economic data, inflationary pressures are beginning to be felt, pushing the BOE to the corner
BoE meeting of this week; some investors are expecting to raise interest rates in the market, even if not in November, it looks it will be 100% in December.

In view of these developments, when we look at the EURGBP pair;

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This article was written by Emre Tutucu for http://www.fxters.com/eurgbp-forecast-technical-analysis-2/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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