EUR/GBP points to consolidation – Westpac

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) - The cross would now attempt to consolidate the recent decline, before embarking in the next trip lower, commented analysts at Westpac.



Key Quotes



“The BoE’s minutes flagged the risk that growth may not slow as much as the BoE expects but lacked the hawkish smoking gun markets were looking for”.



EUR/GBP has come a long way now and positioning is arguably heavily short”.



“EUR/GBP probably needs to consolidate recent losses for a while yet before the next down leg commences”.



Related Forex Analysis
  1. EUR plummets on inflation expectations – MP
    Forex News

    EUR plummets on inflation expectations – MP

  2. EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC
    Forex News

    EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC

  3. EUR/GBP plummets to 0.7960
    Forex News

    EUR/GBP plummets to 0.7960

  4. EUR/GBP only slightly lower on strong UK eco data – KBC
    Forex News

    EUR/GBP only slightly lower on strong UK eco data – KBC

  5. Trading Video: The Next Big Euro Bear Leg
    Forex News

    Trading Video: The Next Big Euro Bear Leg

Trading Center