In view of Senior Analyst at Danske Bank Piet Christiansen, the European cross is still seeing edging upwards in the near term.
“GBP recovered yesterday and EUR/GBP dropped back below 0.88 just after touching the 200- day moving average line at 0.8830”.
“GBP gained after PM May won a key vote in parliament as she and her government accepted giving the House of Commons more power over the Brexit negotiations”.
“The EU withdrawal bill now goes back for debate and will be voted on in the House of Lords on Monday. Uncertainty remains intact and we still see risks skewed to the upside for EUR/GBP ahead of the European Council meeting on 28 -29 June”.
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