This is a trade based on the direction of the long term fundamental factors. Euro is expected to reach parity with the U.S. Dollar as devaluation efforts drive the value down. The December rate hike anticipation will also signal the Sterling strength with the Bank of England expected to follow some sort of rate hike accordingly.
Although I am not looking to trade on that reason alone, a short position provides greater reward on the downside as it continues with the overall fundamental trend.