Buy the dips in EUR/GBP – Danske Bank
Chief Analyst at Danske Bank Allan von Mehren suggested buying the dips in the European cross for a potential test of the 0.9000 area.
“EUR/GBP remains bid as growing pressure on UK Prime Minister Theresa May adds to Brexit woes. We still see risks skewed to the upside near term and tactically, we look to buy on dips for a test of 0.90”.
“Today, the release UK CPI data islikely to show a small uptick in CPI inflation in October. We forecast CPI at 3.2% y/y (consensus 3.1%). Moreover, UK BoE governor Mark Carney is due to speak at the ECB conference”.