On ECB Decision Day, the GBP/EUR pair was hoping for a very dovish talk to push it back above the 1.20 mark. The currency news was eagerly awaited by traders as they anticipated the potential impact on the exchange rate. The market was looking for signals from the European Central Bank that could influence the direction of the British pound against the euro.
The GBP/EUR pair had been struggling to break above 1.20 in recent trading sessions, and traders were looking for any signs of weakness in the euro that could help push the pair higher. A dovish tone from the ECB could potentially weaken the euro and provide a boost to the British pound.
Overall, traders were closely monitoring the ECB’s decision day and the subsequent press conference for any hints on future monetary policy decisions. The outcome of the ECB meeting could have a significant impact on the GBP/EUR exchange rate in the short term.