Listen to the latest market mood for the EURGBP pair.

Weak EUR, Strong GBP

The expectation still remains that the EU and the UK will agree on a Brexit deal sometime this week. This is keeping the GBP supported.

This week is very light on top tier data with the European PMI data arguably the most important data out. With the European services PMI data missing expectations at 41.3 vs 42.2 expected, the ECB are still expected to increase stimulus measures at the next ECB meeting.

Therefore expect EURGBP sellers on pullbacks.

Trade Risks: The main risk to this trade is if the EU and the UK walk away from a Brexit deal.