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>>EUR/GBP deadlock as key Eurozone inflation and German growth figures approach, setting the stage for a currency surge

EUR/GBP deadlock as key Eurozone inflation and German growth figures approach, setting the stage for a currency surge

crypthub

about 6 hours ago

Market Stance

The EUR/GBP pair is confined between 0.8550 and 0.8600 as traders await key European releases. Investor caution has kept price action flat, with low volumes ahead of Thursday’s CPI and Friday’s German GDP data. Market sentiment hinges on how these numbers will shift the euro‑pound balance.

Technical Landscape

EUR/GBP trades near 0.8575, inside a seven‑session 50‑pip range. The 50‑day moving average sits at 0.8580, while the 200‑day provides support at 0.8535. RSI at 48 signals neutral momentum, creating a “coiled spring” poised for a breakout.

Upcoming Eurozone Data

Eurozone CPI is forecast at 2.1% YoY, with core inflation expected at 2.8%, slightly below December levels. A surprise above expectations could boost the euro as the ECB leans hawkish; a miss may weaken it and prompt rate‑cut speculation. German Q4 GDP is projected to grow 0.1% q/q, reflecting a fragile recovery in the bloc’s largest economy.

Potential Outcomes

If inflation and GDP beat forecasts, EUR/GBP may test the 0.8650 resistance. Mixed results could keep the pair range‑bound between 0.8520 and 0.8630. Disappointing data may drive it toward the 0.8480 support, urging traders to manage risk with tight stops and monitor correlated equity and bond markets.