UK growth is set to stagnate but recession narrowly averted. Regarding the EUR/GBP, Kit Juckes, Chief Global FX Strategist at Société Générale, expects the pair to correct lower toward 0.8750.

Series of EUR/GBP higher highs being followed by largish corrections continues

“Tomorrow we’ll get UK Q4 GDP data, with a consensus at zero which dodges recession but doesn’t feel great. That sums up the UK.”

“Sterling has had a lift and the series of EUR/GBP higher highs being followed by largish corrections, continues. Maybe we correct to 0.88 or even 0.8750 before the uptrend resumes.”