EUR/GBP climbs 0.17% to 0.8375 as traders adjust positions ahead of the UK Autumn Budget, though the pair remains near its lowest levels since May 2025.
The EUR/GBP pair is experiencing a technical rebound as market participants reduce their long positions in the British Pound to mitigate risk ahead of the UK Autumn Budget announcement. While the pair remains near its lowest levels since May 2025, the current 0.17% daily gain reflects a temporary pause in the recent bearish trend as traders adopt a cautious stance.
The movement is primarily driven by traders adjusting their positions in the British Pound in anticipation of the UK Autumn Budget at 12:30 GMT.
As of the report, the cross is trading around 0.8375.
The Euro rebounds against the British Pound on Wednesday, snapping a two-day losing streak as market participants reduce exposure to Sterling. Investors are exercising caution ahead of the UK Autumn Budget announcement scheduled for 12:30 GMT.
The pair is rising as traders trim their exposure to the British Pound in anticipation of the UK Autumn Budget announcement.