Charting the markets: Double bottom on GBP/EUR - Think Trading

The British Pound is scoring gains across the board after the Bank of England (BOE) squashed rate cut bets and revised inflation forecasts higher. Meanwhile, major equity markets continue to lose height on the US Presidential election uncertainty.

Investors thus want to know where the Pound is headed next and if the sell-off in the major markets is a flash in the pan or a sign of something more serious ahead. To answer these questions, we talked to Paul Rodriguez, Director of Think Trading, who detailed the double bottom formation on the GBP/EUR chart and discussed technical patterns in other major markets like Nasdaq Composite and EUR/USD.

Watch this video to know the next move in the major markets and the difference between demand pull and cost push inflation

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