Detailed FX Market Outlook and Analysis

EUR/GBP Daily Analysis 10-GEB-2023

EUR/GBP Daily Analysis

The current outlook for EUR/GBP is neutral in the short term. If the 0.8720 support holds, a further increase is expected. A break above 0.8977 would resume the upward trend from 0.8545 and reach a projected 100% level of 0.9071.

In the long term, the presence of the 55-day EMA support at 0.8780 indicates a bullish outlook. A break above 0.8896 could lead to a target of 0.9267 and potentially higher, continuing the upward trend from 0.8201. However, if the 0.8270 support is broken and the currency stays below the 55-day EMA, a decline to 0.8545 and lower could occur.

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