British Pound Latest: GBP/USD Outperforms, EUR/GBP Remains Bearish

The EUR/GBP outlook remains bearish as bounce-backs continue to be faded. Last week, the ECB stepped up its rhetoric against the Euro, while vaccine disruptions has also reduced the appeal of the Euro. Alongside this, with speculative positioning heavily long the Euro, liquidation risks bode well for further EUR/GBP downside. That said, with equity markets at risk of continued bouts of de-leveraging, EUR/GBP will likely be susceptible for brief bounce-backs and thus allowing for the cross to be faded. Topside resistance situated at 0.8860 and 0.8900-15 (FXE, FXB).

EUR/GBP Chart: Daily Time Frame

British Pound (GBP) Latest: GBP/USD Outperforms, EUR/GBP Remains Bearish

Source: Refinitiv

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