Please note that the market for this pair tends to move based on significant triggers, so it wouldn’t be surprising to see it reach the 1.10 level. However, breaking above that level is uncertain as the market remains neutral. Over the past few years, the market has shown a pattern of fluctuation, indicating a lack of clear direction. Short-term traders may find this market appealing for potential opportunities. In the long term, there may not be much difference between these two currencies, especially if the Federal Reserve decides to cut rates, mirroring the actions of the ECB.
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