The odds are high that they will.
Considering all the ECB's policy measures are limited at best and that the ECB will need to leave some measures off the table for future intervention, its a fair bet that we could see the EURO strengthen if we see just a 10 basis point cut and a £10b increase in .
Should the ECB decide its time for more decisive action and we see a 20 basis point cut and a £20b increase in , we may see the EURO come under pressure.
I'm positioning SHORT before the announcement on the assumption that we are left in fairly neutral territory and we see a resumption of EUR/GBP's declines from .7926.
I'm SHORT this market at .7721 with a STOP at .7737. Target is open.
Target - OPEN