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EUR/GBP REMAINS BELOW MID-0.8500S, LACKS BULLISH MOMENTUM

Tina Collins

Tina Collins

— 1 min read
EUR/GBP REMAINS BELOW MID-0.8500S, LACKS BULLISH MOMENTUM
EUR/GBP REMAINS BELOW MID-0.8500S, LACKS BULLISH MOMENTUM

EUR/GBP REMAINS BELOW MID-0.8500S, LACKS BULLISH MOMENTUM

The EUR/GBP currency pair continues to trade below the mid-0.8500s, indicating a lack of bullish conviction despite some buying interest during the Asian session on Monday.​

EUR/GBP is hovering just below the mid-0.8500s, up less than 0.10% for the day, after touching a nearly three-week low around the 0.8510 region on Friday.​

The pair remains below the mid-0.8500s, lacking the momentum to break higher, suggesting a neutral to bearish short-term outlook.​

The lack of follow-through buying indicates that investors are cautious, possibly awaiting clearer economic signals before committing to a directional move.​

Traders are awaiting the German and Eurozone ZEW Survey, due on Tuesday, which could provide further direction for the pair.​

The European Central Bank (ECB) is expected to hold its Deposit Facility Rate unchanged at 4.0%, while the Bank of England (BoE) is anticipated to maintain its higher-for-longer rate narrative, supporting the British Pound.​

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