EURGBP Breakout Analysis
EURGBP has broken the top level of the descending channel in the 1-hour timeframe chart.
Expecting a correction now on EURGBP.
After the confirmation of breakout, the EURGBP Buy signal is given.
EURGBP has reached the take profit target successfully.
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Great Britain Pound (GBP)
UK Pound remains higher as Long bull run from Last month.
Next week UK Budget scheduled on Wednesday, further adding stimulus and Domestic data recovering path may be focused on Budget speech.
UK Pound now waiting for a Correction against the US Dollar ahead of the Budget meeting on Wednesday. So, we can expect GBP to get weak temporarily for the correction.
EURO climbing up now
Euro climbed back higher as Vaccinations hopes and US Dollar weakness ahead of Joe Biden Stimulus package of Voting tomorrow.
US GDP data and Consumer confidence data scheduled this week, it came in Good numbers Then Drag Euro Lower and reverses if came in negative.
European Council meeting happened this week and ECB’s Lagarde will participate in the G20 Meeting of Central Bank Governors on Friday. Euro appreciations now from Last 2-month lows see as Good trend begins in March Month.