Economists at ING expect the EUR/GBP pair to stablize around the 0.88 level in the next few days.

A quiet week in the UK

“The Pound should continue to move in tandem with the Euro, given few catalysts to drive a consistent divergence from the common currency and external (Dollar) factors dominating in FX. So, EUR/GBP may keep hovering around 0.8800 in a week where both the UK and Eurozone’s economic calendars are pretty much empty.”

“If a move to 1.10 in EUR/USD was delayed by OPEC , the same could be said about a move to 1.25 for Cable.”

“The Dollar leg of GBP/USD will keep driving most moves in the pair this week and US data will be in focus.”