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Forex Trading: Selling EURGBP Rebound Ahead Of BoE Minutes

Forex Trading: Selling EURGBP Rebound Ahead Of BoE Minutes

David Song, Strategist

With the European Central Bank (ECB) and Bank of England (BoE) interest rate decisions out of the way, the dovish tone held by President Mario Draghi reinforces our bearish outlook for the EURGBP, and we will look to sell a rebound in the exchange rate amid the deviation in the policy outlook. In turn, we attempt to short the EURGBP on a move back towards the 0.8100 figure, with the stop above the monthly high, and we will maintain an open target going into the BoE Minutes as we anticipate the central bank to sound more hawkish this time around.

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