Chief Analyst at Danske Bank Allan von Mehren suggested buying the dips in the European cross for a potential test of the 0.9000 area.
“EUR/GBP remains bid as growing pressure on UK Prime Minister Theresa May adds to Brexit woes. We still see risks skewed to the upside near term and tactically, we look to buy on dips for a test of 0.90”.
While Den Danske bank expected the UK CPI to accelerate to 3.2% over the year, the actual figures from the Office for National Statistics showed CPI unchanged at 3.0% in September. Moreover, UK BoE governor Mark Carney is due to speak at the ECB conference”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.