Buy the dips in EUR/GBP – Danske Bank

Pablo Piovano FXStreet

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.

Key Quotes

“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”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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