EURGBP might see more losses | market outlook: forex trading

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EURGBP is in view this week after a dramatic initial turnaround with the last couple of days after reaching a new high. The trade deal between the EU and USA is widely seen as being negative for the former while interest rates favour the pound over the euro.

After having reached a new closing high around 87.3p on Friday 25 July, the initial decline in the new week for EURGBP was strong, suggesting further possible selling pressure to come. Traders have concentrated on the disadvantageous trade deal struck between the EU and the USA compared to Britain's situation, but the outlook for monetary policy also seems to be important. This is a highly active week of data with a particular focus for EURGBP on eurozone-wide flash inflation.

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