The EUR/GBP cross once again finds some support near the 0.8630 area and stages a modest intraday recovery from a near two-week low touched this Tuesd
EUR/GBP attracts fresh buyers near the 0.8630 support zone or a nearly two-week low. Some repositioning trade ahead of President Christine Lagarde's speech lends support. The mixed fundamental backdrop warrants caution before positioning for further gains. ay. Spot prices extend the steady ascent through the early part of the European session and climb to a fresh daily high, around mid-0.8600s in the last hour.
The downside, meanwhile, seems cushioned on the back of firming expectations that the Bank of England will maintain the status quo in November. The UK central bank surprisingly paused its rate-hiking cycle in September and provided little hints of its intention to raise rates. This, in turn, should act as a tailwind for the EUR/GBP cross, suggesting that any meaningful slide might still be seen as a buying opportunity and remain limited.
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