Eur gbp news
Here are the latest news and updates on the EUR/GBP currency pair:
Current Rate: 1 EUR = 0.8565 GBP
Recent News:
- UK GDP Growth Slows Down: The UK's GDP growth slowed down to 0.1% in the three months to June, according to the Office for National Statistics (ONS). This is a significant slowdown from the 0.3% growth rate in the previous quarter.
- Eurozone Inflation Rate Rises: The eurozone's inflation rate rose to 1.3% in July, up from 1.1% in June, according to Eurostat. This is the highest inflation rate in the eurozone since November 2018.
- ECB Keeps Interest Rates Unchanged: The European Central Bank (ECB) kept its interest rates unchanged at its latest meeting, citing concerns over the global economic outlook.
- UK-EU Trade Talks Resume: The UK and EU have resumed their trade talks, with both sides seeking to agree on a new trade deal before the end of the year.
- German Economy Contracts: Germany's economy contracted by 0.1% in the second quarter, according to the Federal Statistical Office (Destatis). This is the first contraction in the German economy since 2018.
Technical Analysis:
The EUR/GBP pair has been trading in a narrow range over the past few weeks, with the pair stuck between 0.8500 and 0.8600. The 50-day moving average is currently at 0.8540, while the 200-day moving average is at 0.8460.
Forecasts:
Analysts are divided on the future direction of the EUR/GBP pair. Some are predicting a further decline in the pair, citing concerns over the UK's economic outlook and the potential for a no-deal Brexit. Others are predicting a rebound in the pair, citing the eurozone's improving economic outlook and the potential for the ECB to cut interest rates.
Trading Tips:
- Wait for a Breakout: The EUR/GBP pair is likely to break out of its current range soon. Look for a breakout above 0.8600 or below 0.8500 to trade in the direction of the breakout.
- Use Technical Indicators: Use technical indicators such as the RSI and MACD to identify potential trading opportunities.
- Keep an Eye on Economic Data: Keep an eye on economic data releases from both the UK and the eurozone, as these can have a significant impact on the pair's direction.