Flash: EUR/GBP headed lower – UBS
FXstreet.com (Córdoba) – The UBS analyst team opened a GBP long against a short EUR recommendation at 0.8345, with target 0.8000 and stop loss at 0.8450.
“Going into a busy central bank week, we believe the risks to dovish news from the Bank of England are limited compared to the expected dovish stance of the European Central Bank”.
“On top of that, the British Chancellor will present the latest budget update, in which he will show better data than expected in March and revise the deficit lower”.
“A short EURGBP should work fine in this scenario”.
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