The Pound weakened versus the Euro after the Bank of England (BOE) downgraded their forecasts for growth and this trend is expected to continue, say some analysts.
EUR/GBP is falling before tomorrow’s big event - “Super Thursday” - when the Bank of England (BOE) publish both the minutes from its meeting and its quarterly inflation report.
The outlook for the Euro against two of its major counterparts is looking ever more positive, says Helaba economic advisory service’s Ralf Umlauf.
Analysts at French lender Société Générale’ are bearish EUR/GBP in the longterm.
The Euro was seen advancing on the Pound and Dollar following the release of some better-than-expected sentiment data out of the Eurozone.
The EUR/GBP exchange rate has been consolidating within a range since November 2016, however, the next move is likely to probe lower according to analysts at J.P Morgan.
Sterling traders should keep hold of their bullish bets despite the currency going through the eye of the storm, advises head of strategy Hans Redeker at investment bank Morgan Stanley.
The Euro is one of the G10 currencies with the most upside potential at the moment according to many market commentators.
Strategists at Credit Suisse have recommended buying the Euro and selling Pound Sterling in the short-term in anticipation of further politically-inspired weakness in the latter.
Euro bulls must have cheered after EUR/GBP pierced clearly above a major five-month trendline on Monday, March 6.
The Euro to Pound is showing a bearish bias on its charts despite recent calls - from UBS - that that pair will reach parity by the end of the year.
The impact of a loss of access to the EU for the UK services sector will put the country's current account deficit under increased pressuer, and the Pound will have to respond accordingly.
GBP/AUD is currently unfolding in a bearish measured move, also known as an a-b-c-d pattern, lower.
EUR/GBP is at the start of a downtrend, according to Forex.com’s market analyst Fawad Razakzada, and it will probably remain in a bearish mode for the foreseeable future.
Recent figures from the Bank of England (BOE) showed a sharp decline in Gilt purchases by foreign investors in December, which was probably a function of the stronger Pound.
The EUR/GBP exchange rate is rising in a strong short-term uptrend which is expected to continue.
The Euro to Pound exchange rate is rising, mainly because of the Euro’s pro-risk averse properties, but also due to increased Brexit hype pressurizing the Pound.
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