Election is still an uncertainty. A frexit is still possible
1. Really undervalued from the real value calculated by BIS
2. Early election put conservative party at an unprecedented advantage in UK, and the PM Theresa May is able to clear the way for the uncertainty in terms of Brexit
Don't really want to play the cable because the FED is still going to do the rate hike. The reduction is also on calendar right now. Also, if Trump really manages to make something happen in the US (Tax, healthcare, etc.), it will be for USD. So playing with EURGBP would be the best way.