{"id":19507,"date":"2021-12-13T06:23:00","date_gmt":"2021-12-13T06:23:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=19507"},"modified":"2021-12-13T17:08:41","modified_gmt":"2021-12-13T17:08:41","slug":"eurgbp-technical-analysis-boe-rate-hike-needed-to-stop-the-recovery","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-boe-rate-hike-needed-to-stop-the-recovery\/","title":{"rendered":"EURGBP Technical Analysis &#8211; BoE rate hike needed to stop the recovery"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"19507\" class=\"elementor elementor-19507\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b513f60 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b513f60\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cdadc7e\" data-id=\"cdadc7e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-58a8e84 elementor-widget elementor-widget-text-editor\" data-id=\"58a8e84\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The <a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\" rel=\"noopener\">EURGBP<\/a> pair is rallying sharply as the British pound slump on the foreign exchange market due to new restrictions on the UK economy, newly imposed by the Johnson government last week.<\/p><p>Meanwhile, the euro has been holding up better than other currencies and has been trading towards a six-month high again the British pound. However, the eurozone also has its own lockdown issues.<\/p><p>The next big move in EURGBP pair is expected to come after the Bank of England rate decision this week. It should be noted that the British economy also has some big economic releases this week.<\/p><p>The expectation is low that the Bank of England will hike rates this week, and most experts believe that the central will wait until early next year before raising borrowing costs.<\/p><p>This is later than previously expected, as economists note that further information on the economic impact of the new Omicron coronavirus variant is likely to be needed by the central before a decision is made on hiking rates.<\/p><p>In a recent Reuters poll, a slim majority of economists expected a rise from 0.10% to 0.25% this week. But since then BoE policymakers Saunders who voted for an interest rate hike last month said he wanted more details about the new variant before deciding how to vote this month. This is probably bullish for the EURGBP pair.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-38fdab8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"38fdab8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7634277\" data-id=\"7634277\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-33a0c8f elementor-widget elementor-widget-image\" data-id=\"33a0c8f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"447\" height=\"166\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/EURGBP-CHART.jpg\" class=\"attachment-large size-large wp-image-19523\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-88b8a5a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"88b8a5a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9535af9\" data-id=\"9535af9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8d7fef2 elementor-widget elementor-widget-text-editor\" data-id=\"8d7fef2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The ActivTrader platform shows that bearish sentiment is ramping up, with some 63 percent of traders still expecting more downside in the EURGBP pair, despite the recent price ramp.<\/p><p>One-way sentiment skews are rarely correct, so the current bearish sentiment is worrying. With traders turn bearish towards this euro cross, I have concerns that the rally in the single currency against the pound is only set to worsen.<\/p><p><strong>EURGBP Short-term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that the EURGBP pair is currently technically bullish, over the short-term while the price trades above the 0.8480 support level.<\/p><p>Lower time frame analysis currently shows the EURGBP pair has broken back inside a large triangle pattern. Sustained gains above the 0.8500 level are likely to prompt more gains towards the top of the channel, around the 0.8650 level.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e3474f0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e3474f0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4148292\" data-id=\"4148292\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bfcfa43 elementor-widget elementor-widget-image\" data-id=\"bfcfa43\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"566\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/EURGBP-4H.jpg\" class=\"attachment-large size-large wp-image-19525\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-17542ceb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"17542ceb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1fffb48\" data-id=\"1fffb48\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2a20f183 elementor-widget elementor-widget-text-editor\" data-id=\"2a20f183\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2ab8ab0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2ab8ab0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4317fd5\" data-id=\"4317fd5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0f00b0c elementor-widget elementor-widget-text-editor\" data-id=\"0f00b0c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>EURGBP Medium-term Technical Analysis<\/strong><\/p><p>The daily time frame shows that the EURGBP pair has suffered a large technical bounce from close to the bottom of a large expanding broadening wedge pattern.<\/p><p>Following the downside failure, the technical picture is still confusing, and I predict that the <a href=\"http:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EURUSD<\/a> pair is likely to trade in a range between the 0.8700 and 0.8200 level. Much above the 0.8750 level, and the bullish trend could turbo charge in the EURGBP pair.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-48b80a4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"48b80a4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-676e33a\" data-id=\"676e33a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-956fb17 elementor-widget elementor-widget-image\" data-id=\"956fb17\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"566\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/EURGBP-1D.jpg\" class=\"attachment-large size-large wp-image-19526\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1c8dcdde elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1c8dcdde\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4f7840a7\" data-id=\"4f7840a7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-33868ef0 elementor-widget elementor-widget-text-editor\" data-id=\"33868ef0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2Lg9zs6\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The EURGBP pair is rallying sharply as the British pound slump on the foreign exchange market due to new restrictions on the UK economy, newly imposed by the Johnson government last week. Meanwhile, the euro has been holding up better than other currencies and has been trading towards a six-month high again the British pound. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":10414,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[56,24,243],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EURGBP Technical Analysis - BoE rate hike needed to stop the recovery - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-boe-rate-hike-needed-to-stop-the-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EURGBP Technical Analysis - BoE rate hike needed to stop the recovery EURGBP Technical Analysis - BoE rate hike needed to stop the recovery\" \/>\n<meta property=\"og:description\" content=\"The EURGBP pair is rallying sharply as the British pound slump on the foreign exchange market due to new restrictions on the UK economy, newly imposed by the Johnson government last week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-boe-rate-hike-needed-to-stop-the-recovery\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-13T06:23:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-13T17:08:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/GettyImages-675062372.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"593\" \/>\n\t<meta property=\"og:image:height\" content=\"292\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"EURGBP Technical Analysis - BoE rate hike needed to stop the recovery EURGBP Technical Analysis - BoE rate hike needed to stop the recovery\" \/>\n<meta name=\"twitter:description\" content=\"The EURGBP pair is rallying sharply as the British pound slump on the foreign exchange market due to new restrictions on the UK economy, newly imposed by the Johnson government last week.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-boe-rate-hike-needed-to-stop-the-recovery\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/eurgbp-technical-analysis-boe-rate-hike-needed-to-stop-the-recovery\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"EURGBP Technical Analysis &#8211; 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