On Thursday, the EUR/GBP cross gained further momentum, closing towards the 0.8670 area, and has already gained 1.34% in September. In line with that,
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EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since May 04, 2023 when EUR/GBP traded near 0.88.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.
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EUR/GBP falling back ahead of UK inflation read, BoE rate hikeThe EUR/GBP took a dip on Tuesday after starting the week strong, and the pair is backing into the 0.8620 neighborhood after the week kicked off with
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