Snapshot: EUR/GBP trades at 0.8669, up 0.09% on the day. The pair remains contained as markets digest easing signals from both the ECB and BoE, with the latter looking less hawkish following recent CPI prints. Lagarde speaking at 09:10 CET may offer intraday direction.
- Watch 0.8680 resistance. A break could signal a short-term bullish move.
- Risk of disappointment from Lagarde presser. Hawkish signals would weigh on the pair, but seems unlikely.
Bias into NY: Neutral. Softening UK CPI data has fueled expectations of a BoE rate cut in the coming months, while the ECB has already started its easing cycle. We expect the pair to remain rangebound, finding support around 0.8650.