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- EUR/GBP to correct after deceptive rally - ING
EUR/GBP to correct after deceptive rally - ING
Francesco Pesole, an FX strategist at ING, note that sterling had an unusual positive day yesterday, mainly benefiting from some position-squaring related upside pressure and a weaker euro.
- "We think any rally in GBP is likely to be short-lived as the lingering uncertainty about Brexit should discourage investors from jumping on long-sterling positions to play any rebound in risk appetite.
- Hence, we look for EUR/GBP to move back above the 0.9200 level in the coming days."
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