Remaining bearish on EUR/GBP as the European Central Bank (ECB) slashes its GDP and HICP inflation forecasts. The ECB’s decision to cut these forecasts indicates a weakening economic outlook for the Eurozone. This could potentially lead to further downside pressure on the euro against the British pound.
Investors should be cautious as the ECB’s downward revisions suggest that the Eurozone economy is facing challenges that could dampen the euro’s strength. This may create opportunities for traders to capitalize on a potential downtrend in EUR/GBP.
Overall, staying short on EUR/GBP could be a strategic move in light of the ECB’s revised forecasts and the potential impact on the euro’s value relative to the pound.