EURGBP may enter into bullish phase
EURGBP may enter into bullish phase
In December 2024, EUR/GBP is poised for a bullish trend, driven by a combination of factors. Seasonally, the euro typically outperforms the pound until the third week of December, which aligns with the COT report showing non-commercial positions heavily favoring EUR over GBP. Endogenous factors reveal a slightly stronger outlook for the euro, with less negative sentiment compared to the pound, despite mixed fundamentals like weak ISM and CPI scores.
Exogenous factors suggest a neutral to slightly bearish backdrop for EUR/GBP, but seasonal strength and positioning trends likely counteract this. Upcoming events, such as the ECB's monetary policy decisions and eurozone PMI/GDP data, may reinforce EUR's strength if they signal resilience or hawkishness. Conversely, the pound faces potential pressure from weak UK CPI and Retail Sales data, along with dovish BoE commentary.
Overall, the early to mid-December period presents a strong bullish case for EUR/GBP, but caution is warranted in the final weeks as seasonal momentum fades.
In December 2024, EUR/GBP is poised for a bullish trend, driven by a combination of factors. Seasonally, the euro typically outperforms the pound until the third week of December, which aligns with the COT report showing non-commercial positions heavily favoring EUR over GBP. Endogenous factors reveal a slightly stronger outlook for the euro, with less negative sentiment compared to the pound, despite mixed fundamentals like weak ISM and CPI scores.
Exogenous factors suggest a neutral to slightly bearish backdrop for EUR/GBP, but seasonal strength and positioning trends likely counteract this. Upcoming events, such as the ECB's monetary policy decisions and eurozone PMI/GDP data, may reinforce EUR's strength if they signal resilience or hawkishness. Conversely, the pound faces potential pressure from weak UK CPI and Retail Sales data, along with dovish BoE commentary.
Overall, the early to mid-December period presents a strong bullish case for EUR/GBP, but caution is warranted in the final weeks as seasonal momentum fades.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.