EURGBP daily

TD Research discusses its expectations for next week's ECB policy meeting.

"The ECB is likely to announce that its APP programme will end in May, and prepare markets for a June rate hike," TD notes.

"We continue to like EURUSD downside through the start of Q2 on a mix of drivers. An ECB pivot would anchor a possible low for EURUSD, though a break of the 1.12 high requires settlement on the US terminal rate pricing. That said, a more active ECB is likely to reinforce the lows in EURCHF and would favor buying EURGBP dips towards 0.83," TD adds.

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