Brexit Scenarios and EURGBP Forecast
Brexit Scenarios and potential GBPUSD price actions have been published in our GBPUSD Forecast.
Our EURGBP forecast and technical analysis:
The historical price action of EURGBP and the important events were mentioned on the Weekly Chart.
Positive Scenario: Sell off in EURGBP 0.85200 0.8457 0.8300 Longer-term period : 0.81000
Negative Scenario: EURGBP Rally 0.89000 0.91000
However, EURGBP case is completely different than GBPUSD.
- Hard Brexit will create strong negative effects not only on Sterling but on Euro as well.
- In the case of Hard Brexit, BoE will go to rate hikes to protect the currency. And we believe that EURGBP would face a selling pressure median term after a rally.
We will stay out of EURGBP game for a while and take our position after MPs decision.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURGBP Forecast: 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. Chartreaderpro 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