Studies of spatial cueing have demonstrated facilitated processing of targets presented at likely compared to unlikely locations and to targets occurring at the location of an (unpredictive) advance cue compared to an uncued location. These effects—referred to as endogenous and exogenous spatial cueing, respectively—are associated with enhanced sensory potentials (i.e., posterior P1) evoked by the target stimulus in EEG recordings. Processing is also affected by emotional cue content, suggesting dwelling of attention at locations of fear-related stimuli and diverting of attention from locations of disgust-related stimuli. To investigate the interplay of these factors we presented, in different groups of participants, the target stimulus at the (lateral) location of the cue vs. at the opposite location with likelihood ratios of 75%/25% and 25%/75%, respectively, and added emotional content to the cue. Responses were overall faster when the target occurred at the likely location. In line with opposing attentional tendencies evoked by fear-related and disgust-related content, this was modulated by emotional cue content. Regarding ERPs, trials with unlikely target locations featured a positive deflection in the P3 range, which occurred earlier when the likely target location equaled the cued location, presumably reflecting adjustment to an unexpected stimulus event. By contrast, the posterior P1 was larger in trials in which the target occurred at the cued location (even with a SOA of 800 ms), irrespective of target location likelihood and of emotional cue content. Overriding exogenous cueing by using predictive information thus occurs despite an opposing bias during early stimulus processing.