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A less hawkish BoE posture for Inflation might hit EUR/GBP - WIB

FXStreet (Barcelona) - The Westpac Global Strategy Group comments that the BoE Inflation Report this week may not be constructive for GBP.

Key Quotes

“EUR/GBP trending lower again but we are wary that the BoE Inflation Report this week may not be constructive for GBP - lower energy prices, a slight cooling in activity and lower actual inflation trends flag a less hawkish BoE posture in the Inflation Report.”

“Last week’s close at new 1 year lows confirms the ongoing downtrend. Next target and potential support where the 61.8% retracement coincides with mid-2013 highs around 1.5700/25."

"A break of 1.5700 would open up far greater downside towards 1.5000”

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