EURGBP

Key Indicators

• Technically, the overall momentum remains bearish. However, the short-term structure and momentum are currently favoring buyers. The H1 timeframe is currently finding short-term support in the 0.8450/60 range and is undergoing a corrective consolidation phase following an oversold condition.

Fundamental Context

After a sharp decline last week, the currency pair has managed to recover some of its losses. At present, the EUR/GBP is consolidating after experiencing a significant dip. This week, the most important event to watch for the pair is the recent UK inflation report scheduled for Wednesday.