EUR/GBP chart - Trading View
- EUR/GBP was trading largely unchanged at 0.8536 at around 08:50 GMT, the British pound gains traction ahead of BoE monetary policy meeting.
- Cautious sentiment prevails across the markets amid virus-led pessimism and the Brexit deadlock.
- Rising concerns regarding the Delta Plus virus variant and uncertainties over the July 19 deadline for the UK’s complete unlock probes optimists.
- Bank of England (BOE) is expected to keep policy unchanged. Bulls eyeing hawkish BOE statement for impetus.
- BOE policymaker’s voting count and statements conveying the economic optimism will boost the pound further. On the other side, upbeat German IFO data will keep check on the downside.
- Technical bias for the pair is bearish. GMMA indicator shows major and minor trend are strongly bearish.
Summary: The pair is down 0.52% for the week till date. Price action is on track to test trendline support at 0.85. Violation there will open downside.


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