The GBP in combination with the EUR will be volatile in the next coming days. With the ECB meeting and UK CPI this week, the market has great many causes making an effect.
Expectation is that the ECB may raise interest rates by 50 bps (currently at -0.50%), as there are fears of a recession in the European Union. A safer bet would be just a 25 bps increase. The EU PMI anticipations are that it will fall to 51 from 52, and 54.8 before that in May.
The UK CPI is speculated to rise from 9.1% YoY to 9.3% YoY. With so much pulling both markets in different directions, this one will be interesting to see. Please keep in mind that all trading carries risk.
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