The Euro witnessed an increase against the Pound by 0.09% in early trading today, continuing the upward movement after the downward trend was broken at the beginning of this month.

Note that the position of the European Central Bank, which was more stringent than what was expected in the markets, reduces the possibility of reducing European interest rates early next year, specifically during the first half of 2024.
Markets expect the European Central Bank to begin easing monetary policy and lowering European interest rates at the beginning of the third quarter, which means that the European Central Bank will move later than its counterparts in the United States and Britain.
As for the pound, data released last week showed that consumer prices fell in November to the lowest level in two years, reducing inflationary pressures on monetary policymakers at the Bank of England.
Note that the gap in interest rates between the United Kingdom and Europe is at 75 basis points, the smallest gap since March 2022, in favor of the British interest rate, as the emergence of any evidence about reducing that gap during the coming period will be in favor of an increase in the euro exchange rate against the pound and vice versa.
The technical indicators are represented by the Relative Strength Index moving above the fifty level at 61.20 and trending upward, in addition to the MACD, which is moving above zero levels with the possibility of a positive intersection occurring.

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.