Morgan Stanley summarizes its EUR, and GBP tactical views in the near-term.

"EUR View: Bullish | Skew: Bullish EUR should gain from positive global forces, a better-than-expected local backdrop, continued ECB normalization, and capital repatriation," MS notes. 

"GBP View: Bearish | Skew: Bearish Three key divergences – growth, policy, and the balance of payments dynamic – should weigh on GBP and keep GBP as a key G10 laggard," MS adds.