GBP/USD, EUR/GBP Outlooks Sterling Weakens After Bank Of England Commentary


(MENAFN- DailyFX) GBP Outlooks – Sterling Weakens After Bank of England Commentary Skip to Content News & Analysis at your fingertips.

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Change in Longs Shorts OI
Daily 1% 10% 6%
Weekly -41% 91% -4%
What does it mean for price action? Get My Guide

Sterling's weakness can be seen a little better against the Euro . The ECB is fully expected to cut rates by 25 basis points in June, and potentially again in July, leaving the ECB ahead of the BoE in the rate-cutting cycle. Despite this, the Euro strengthened sharply against the British Pound at the end of last week and is looking to build on those gains today. A clear break of 0.8620 would leave 0.8701 and 0.8715 as the next resistance levels.

EUR/GBP Daily Price Chart

What is your view on the British Pound – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1 .

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