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2025-10-28 23:26:23
【Wells Fargo recommends going long on EUR/GBP with a target price of 0.8910】 Wells Fargo strategist Erik Nelson recommends buying EUR/GBP and setting a stop-loss at 0.8665, as there are more factors unfavorable to the pound than favorable factors, while the euro remains strong. Nelson said he recommends holding the position for about a month before the UK budget is released and setting a target price of 0.8910. He said: "While we expect the UK fiscal premium to decline after the budget is released, the overall exchange rate movement will reflect the weak data more, which should overwhelm any positive impact on the pound brought about by the decline in the fiscal risk premium. Recent European PMI and credit data have also been strong, supporting the relative strength of the euro."
