EURGBP - BEARISH BIAS

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MARKET OUTLOOK
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EUR - BEARISH
1️⃣ Last week, GDP figures showed the Eurozone entered a double-dip recession in the first quarter, with Germany, Italy and Spain falling back into contraction territory and France returning to growth.
2️⃣ Most of euro area still in lockdown.
3️⃣ Downward revisions to EZ PMIs

GBP - BULLISH
1️⃣ Bank of England expected to raise their economic projections.
2️⃣ UK in the process of ending restrictions with goal of ending them in June.

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TECHNICAL
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- We're looking to short this pair on SMA50 area + SBR level on H1 chart with 20 pips stop loss.

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RISK TO THIS TRADE
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- If BoE sound dovish, this trade will hit stop loss.