Snapshot: EUR/GBP is trading near 0.8550, down 0.3% on the session, as this morning’s UK GDP prints beat expectations. The stronger-than-anticipated data suggests the Bank of England may maintain its hawkish stance for longer, as reflected in the vote split.
- A break below 0.8540 could signal further downside momentum for EUR/GBP, potentially testing the recent lows.
- Watch for further commentary from BoE members, as well as risk sentiment (VIX at 17.99), which could influence the pair in the NY session.
Bias into NY: Short EUR/GBP, targeting 0.8520, as the positive UK growth data reinforces the BoE’s cautious approach, creating a divergence from the ECB’s mild easing bias.