"GBP is losing its rate support," says Société Générale's chief FX analyst Kit Juckes.
The UK economy looks to have firmed after the budget.
Pound Sterling was unable to build a meaningful recovery, and risks are tilted lower this week, in which the Bank of England (BoE) dominates.
GBP/EUR has been on the rise since mid-November, consistent with the relief rally we expected to transpire following the budget.
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