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2025-10-29 20:29:53
[Euro Surges to 0.88 Against Pound! Bank of England Rate Cut Expectations Trigger Market Earthquake] ⑴ The euro/pound exchange rate broke through the 0.8800 mark, setting a new annual high. ⑵ Continued concerns about the UK budget weighed on the pound's performance, with fiscal uncertainty posing a major pressure. ⑶ The market is positioning itself for a possible unexpected rate cut by the Bank of England. ⑷ Goldman Sachs' latest forecast has shifted to expecting a rate cut in November, reinforcing market expectations of easing. ⑸ Although the likelihood of a rate cut before the budget is low, policy risks cannot be completely ruled out. ⑹ The daily relative strength index (RSI) has entered overbought territory, indicating accumulating short-term downward pressure. ⑺ The risk-reward ratio is becoming unfavorable for establishing new long positions, significantly increasing the risk of chasing highs. ⑻ Buying on dips is a more preferable trading strategy; the market is bullish but technical corrections should be watched for.
