EUR/GBP Stalls Ahead of BoE Decision as Deutsche Bank Warns Pound May Weaken

The EUR/GBP pair is trading just above 0.8560 as investors await the Bank of England's (BoE) monetary policy decision on Thursday.

While a rate hike by the BoE is expected, Deutsche Bank warns that the central bank's 'wait and see' stance might weigh on the Pound.

The previous two days' recovery attempt from 0.8550 was rejected at 0.8570, with momentum indicators showing a lack of clear bias in the technical picture.

Deutsche Bank strategists suggest that the BoE's recent tactic of pushing back against early market tightening expectations may be losing effectiveness.