EUR/GBP set to test next key resistances at 0.8950 and the 0.8970 February high – ING

EUR/GBP faces upside risks. Economists at ING expect the pair to test key resistance at 0.8950, then 08970.

Still upside risks for EUR/GBP

“The Euro is looking more attractive than the pound, thanks to the ongoing hawkish repricing in ECB rate expectations and a more encouraging domestic outlook.”

“Like the Euro, the Pound is lacking internal drivers this week, but in light of the deterioration in sentiment and the EUR’s better fundamentals, we continue to see moderate upside risks for the pair, with a break above the near 0.8922 17 February high setting the next key resistances at 0.8950 first, and the 0.8970 February high then.”