{"id":3059,"date":"2023-05-25T09:46:39","date_gmt":"2023-05-25T09:46:39","guid":{"rendered":"https:\/\/blog.trive.com\/?p=3059"},"modified":"2023-05-25T09:46:40","modified_gmt":"2023-05-25T09:46:40","slug":"the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation","status":"publish","type":"post","link":"https:\/\/blog.trive.com\/de\/handel\/the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation\/","title":{"rendered":"The EURGBP Finds A Base Following The U.K.\u2019s Escape From Double-Digit Inflation"},"content":{"rendered":"<p>The U.K. economy has finally escaped the chokehold of double-digit inflation, following a Year-on-year reading of 8.7%, down from 10.1%. However, the inflation rate still exceeded the expectation of 8.2%, reflecting that more progress is needed in lowering it. The Pound\u2019s recent vigour has seemingly ended, with the EURGBP currency pair trading sideways.<\/p>\n\n\n\n<p>Given that inflation is still far from the 2% target in both the U.K. and Euro Area, more rate hikes are likely to be implemented by the Bank of England (BOE) and European Central Bank (ECB); however, the BOE has more work to do.<\/p>\n\n\n\n<h2>Technische Analyse<\/h2>\n\n\n\n<p>Following a sharp downturn from resistance at the 0.88338 level and a break below the 100-day moving average, the EURGBP currency pair has found support at the 0.86761 level. Price action has begun to consolidate sideways, forming a rectangle pattern at the support level, with bulls and bears mainly in balance.<\/p>\n\n\n\n<p>A breakout to either side of the consolidation pattern could validate an extended move in the direction of the breakout. If a high volume breakout above the pattern ensues, it could indicate that bulls have won the battle. Bulls will likely aim for the 0.88338 level if they commit to the upside. In contrast, a high volume breakout below the pattern could validate a move lower with bears advancing. The 0.85750 level will likely be earmarked as a point of interest by bearish traders.<br><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"484\" src=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/2023.05.25-ND-EURGBP-Trade-Outlook-1024x484.png\" alt=\"\" class=\"wp-image-3060\" srcset=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/2023.05.25-ND-EURGBP-Trade-Outlook-1024x484.png 1024w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/2023.05.25-ND-EURGBP-Trade-Outlook-300x142.png 300w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/2023.05.25-ND-EURGBP-Trade-Outlook-768x363.png 768w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/2023.05.25-ND-EURGBP-Trade-Outlook-1536x727.png 1536w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/2023.05.25-ND-EURGBP-Trade-Outlook-18x9.png 18w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/2023.05.25-ND-EURGBP-Trade-Outlook.png 1814w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2><br>Zusammenfassung<\/h2>\n\n\n\n<p>Europe\u2019s biggest economy, Germany, entered a recession in the first quarter after its output (GDP) contracted 0.3% for the quarter, following a 0.5% contraction in the last quarter of 2022, fitting in with the definition of a recession (two consecutive quarters of contraction). This could potentially threaten the Euro\u2019s upside potential if other Euro Area members follow suit, giving rise to a likely pause in rate hikes. The 0.86761 and 0.88338 levels will be key to watch as market sentiment will likely be decided by a range breakout.<br>Sources: Federal Statistical Office, Office for National Statistics, Reuters, TradingView<\/p>","protected":false},"excerpt":{"rendered":"<p>The U.K. economy has finally escaped the chokehold of double-digit inflation, following a Year-on-year reading of 8.7%, down from 10.1%. However, the inflation rate still exceeded the expectation of 8.2%, reflecting that more progress is needed in lowering it. The Pound\u2019s recent vigour has seemingly ended, with the EURGBP currency pair trading sideways. Given that [&hellip;]<\/p>","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The EURGBP Finds A Base Following The U.K.\u2019s Escape From Double-Digit Inflation - Trive Blog<\/title>\n<meta name=\"description\" content=\"The U.K. economy has finally escaped the chokehold of double-digit inflation, following a Year-on-year reading of 8.7%, down from 10.1%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.trive.com\/de\/handel\/the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The EURGBP Finds A Base Following The U.K.\u2019s Escape From Double-Digit Inflation\" \/>\n<meta property=\"og:description\" content=\"The U.K. economy has finally escaped the chokehold of double-digit inflation, following a Year-on-year reading of 8.7%, down from 10.1%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.trive.com\/de\/handel\/the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation\/\" \/>\n<meta property=\"og:site_name\" content=\"Trive Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-25T09:46:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-25T09:46:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/2023.05.25-ND-EURGBP-Trade-Outlook-1024x484.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The EURGBP Finds A Base Following The U.K.\u2019s Escape From Double-Digit Inflation\" \/>\n<meta name=\"twitter:description\" content=\"The U.K. economy has finally escaped the chokehold of double-digit inflation, following a Year-on-year reading of 8.7%, down from 10.1%.\" \/>\n<meta name=\"twitter:label1\" content=\"Verfasst von\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Gesch\u00e4tzte Lesezeit\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 Minuten\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.trive.com\/trading\/the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.trive.com\/trading\/the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"The EURGBP Finds A Base Following The U.K.\u2019s Escape From Double-Digit Inflation\",\"datePublished\":\"2023-05-25T09:46:39+00:00\",\"dateModified\":\"2023-05-25T09:46:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.trive.com\/trading\/the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation\/\"},\"wordCount\":338,\"publisher\":{\"@id\":\"https:\/\/blog.trive.com\/#organization\"},\"articleSection\":[\"Trading\"],\"inLanguage\":\"de-DE\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.trive.com\/trading\/the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation\/\",\"url\":\"https:\/\/blog.trive.com\/trading\/the-eurgbp-finds-a-base-following-the-uk-s-escape-from-double-digit-inflation\/\",\"name\":\"The EURGBP Finds A Base Following The U.K.\u2019s Escape From Double-Digit Inflation - 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