The euro should be pressured heading into the ECB meeting [Video]

Giles Coghlan LLB, Lth, MA Financial Source

Listen to the latest market mood for the EUR/GBP pair.

Weak EUR, Strong GBP

The ECB is expected to give a negative twist to their rate meeting today, so the euro should be pressured heading into the meeting. The shutdowns in France and Germany on rising COVID-19 cases will also help weaken the euro.

The UK is still expected to find a trade deal with the EU, so expect dips in the GBP to be bought as long as these hopes remain.

This means that the EURGBP pair should find sellers this AM.

Trade Risks: The main risk to this trade is some negative Brexit news which will strengthen the EURGBP pair.

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Author

Giles Coghlan LLB, Lth, MA

Financial Source

Giles is the chief market analyst for Financial Source. His goal is to help you find simple, high-conviction fundamental trade opportunities. He has regular media presentations being featured in National and International Press.

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