EUR/GBP weakens simultaneously with Euro depreciation EURGBP
EUR/GBP is resuming its downward trend, edging closer to its yearly low, signaling potential bearish momentum in the pair.
Market awaits ECB President Lagarde's speech and German inflation data on Wednesday for potential developments. On Wednesday, Destatis will release inflation figures from Germany which are expected to have further decelerated in May. In that sense, the inflationary figures for the biggest economic block from the, the EUR/GBP pair maintains a neutral-to-bearish outlook in the short term, as the bears have seemingly retreated while the market enters a phase of consolidation. However, technical indicators continue to show negativity, suggesting the potential for further downward movement.
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