"We are reluctant to lean into recent Sterling bearishness, and would see EUR/GBP as a good target if ECB policymakers take a slower approach to normalization than we now expect."
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Barclays says GBP to be supported, but warn the best part of the rally is done.
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The 'hawkish' hike saw Pound Sterling rise across the board before Governor Andrew Bailey cooled the excitement.
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Article 18 of the very same protocol offers an outline of why this need not trouble Pound Sterling.
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The Pound is riding high, helped by economic growth outperformance expectations, but could fade as year progresses and inflation and tax hikes weigh on consumers.
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In its quest to fight inflation the Bank of England will welcome onside the recent appreciation in the value of the British Pound.
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"This could have implication for the outlook for the pound later this year" - Rabobank on the impact of the National Insurance increase on Sterling's outlook.
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