EUR/GBP Analysis : Daily Chart
EUR/GBP reaches the major support level 0.83 for 4th time.
U.K. Prime Minister “Theresa May” called for early general elections on June 8.
This makes the GBP to get stronger on this week. But on other side, The first round of the 2017 French presidential election is set to be held on 23 April 2017.
The euro rose to its highest level in three weeks against the dollar on Thursday after a new opinion poll indicating that centrist candidate Emmanuel Macron will win the French presidential election.
Money market expectations for a rise in European Central Bank interest rates have largely evaporated.
Yet a Reuters poll on Thursday showed the bank’s next move would be to cut the value of its monthly bond purchases, and speculation is rife that the bank will be able to change tack once political risks to the euro abate.
“Relative to its U.S. counterparts, Europe offers good value on strong economy, even peripherals like Portugal are posting bullish economic data,” said Shaniel Ramjee, a multi-asset fund manager with Swiss investment firm Pictet.
We can expect some high volatility on EURO Currency Pairs.
Wait for the confirmations before placing any new trades on EURO pairs.
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