FXStreet (Edinburgh) - Strategists at Westpac see the likeliness of further pullbacks in the pair in the medium term.
Key Quotes
“EUR/GBP finally seems to be breaking down from the 0.7250-0.74 range”.
“The move has a lot further to run before it more accurately prices in the sharp policy differential that should open between the BoE and the ECB in 2016, though this is a patience trade”.
“A run at 0.70 still possible before the year is out”.
“Price has returned towards the middle of the multi-month range. Medium term momentum lacks a dominant direction. Neutral bias”.
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