The BoE central bank has decided to cut rates by 25 basis points, aligning with a dovish outlook similar to the ECB. The key question now is which bank will be the first to stop cutting rates. Overall, I believe Europe could perform much better against the Pound in the coming months, especially with EURGBP trading near the lower side of a multi-year support area around 0.83.
Based on cycle analysis and key price levels, I wouldn’t be surprised to see a reversal to the upside in the next few months, particularly if the price breaks out of the current downward channel.
www.wavetraders.com
For more analysis like this, you may want to watch below our latest recording of a live webinar streamed on February 03 2025:
This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.
/Tesla%20Inc%20tesla%20by-%20Iv-olga%20via%20Shutterstock.jpg)
/Broadcom%20Inc%20logo%20on%20building-by%20Poetra_%20RH%20via%20Shutterstock.jpg)
/Super%20Micro%20Computer%20Inc%20HQ%20photo-by%20Tada%20Images%20via%20Shutterstock.jpg)
