FXStreet (Delhi) – Research Team at TDS, note that the GBP is underperforming many of its G10 peers after UK trade and construction data disappointed in August.
Key Quotes
“This comes after the BoE also turned more dovish in their latest minutes, released yesterday. EURGBP is moving higher as a result and we are monitoring a break above 0.7445 as a key threshold for further gains.”
“On a medium-term basis, we maintain a strong conviction that EURGBP will trade to fresh lows for this cycle, but we think a steeper correction is due. From today’s vantage point, we think a move to the 0.7500/50 region may present an attractive entry point for re-loading strategic shorts.”
(Market News Provided by FXstreet)