EUR/GBP

The fourth quarter of 2016 GDP data is coming up for a second revision today at 0900 GMT. Economists polled expect to see no revisions to the GDP, which currently stands at 0.6% on a quarterly basis, while preliminary business investment is expected to remain flat, following a 0.4% decline previously.

The monthly jobs report from the UK will be released later today at 0930 GMT. Economists polled are expecting to see the UK’s unemployment rate remain steady at 4.8%, while wages are also expected to rise 2.8%, a steady pace since the previous month. Following yesterday’s inflation report, the jobs report today will show if there are any signs of wage inflation pressures which will be seen as a positive for the British pound.

The euro fell sharply against the British pound yesterday after the markets were surprised by the hawkish comments from of the BoE policy makers who suggested that rate hikes in the U.K. were needed. The speech which was scheduled to be released today was published a day earlier.

The Bank of England Governor Mark Carney is expected to speak later this afternoon. The central bank governor will be giving a speech titled "Policy Issues Affecting the Bank of England" at the London School of Economics.

The euro is starting to look weaker against the British pound ahead of an important week.

Squeeze higher for the cross

EUR/GBP bullish as long as a-c trendline holds

The Euro has corrected some of the Pound move against it, now its time for it to resume its decline further.

The Euro is set for another leg lower against the Pound