Week Ahead Pound-to-Euro Exchange Rate

Our technical studies of the GBP/EUR charts indicate the bulls are back in control and likely to push the exchange rate higher over the following days; however Brexit headlines will continue to be the primary driver of Sterling and therefore we expect substantial volatility.

GBP/EUR could really tumble if it breaks below a key support level, but volatility will be heightened next week as the EU and UK seek a fresh Brexit accord.

Studies of the GBP/EUR charts indicate that limited near-term weakness is likely, but the outlook on longer-term timeframes is more uncertain. Expect politics to remain in the driving seat for Sterling from a fundamental perspective.

The Pound-to-Euro rate is set to begin trading around 1.1288 at the beginning of the new week after closing the previous one around 1.28% higher on Friday, and studies of the charts indicate that tough resistance up ahead may cause a temporary pullback in the pair.  

Pound Sterling recovers back into established range against the Euro and technical studies suggest more upside, but we are wary of heightened politically-inspired volatility over coming days.

GBP/EUR has reached resistance from a trendline and pulled-back lower, but if it breaks above the 1.1080 highs that will provide confirmation of a breakout above the trendline and more upside.

The GBP/EUR exchange rate will be trading at around 1.0980 at the start of the new week after rising a solid 2.00% in the week before and studies of the charts suggest there is mounting evidence to support a reversal in the short-term, however, longer-term this is debatable.

Pound Sterling buys €1.0924 at the start of the new week after fall 1.65% in the week before. Studies of the charts suggest the pair will probably go lower in the coming days as the dominant downtrend extends.

We are wary that weekend reports that suggest the UK government is doubling-down on preparations for a 'no deal' Brexit could send the currency lower when markets open.

The Pound-to-Euro rate is set to begin trading around 1.1143 at the beginning of the new week after retreading a familiar range throughout the previouos one, although studies of the charts suggest the pair is at an inflection point from which it could break in either direction. 

Technical and fundamental outlook for the British Pound against the Euro for the week commencing July 14.

Pound Sterling is trading at around €1.1138 at the start of the new week, after recoding its ninth consecutive weeks of declines in the week prior. Studies of the charts suggest the pair will probably go sideways over coming days but owing to the overriding negative trend it will come as little surprise to readers to hear that the risks remain skewed to the downside.

Pound Sterling is predicted to maintain its ongoing trend of weakness against the Euro in the first week of June.

The British Pound is forecast to remain under selling pressure against the Euro over the short- and medium-term timeframes with currency market attention likely to fixate on Boris Johnson's Brexit strategy.

It's a busy week ahead for the Sterling and Euro and therefore volatility could be elevated: Sterling has the Bank of England and Boris Johnson to consider while the ECB's Sintra conference could see the Euro hit with a surprise. Technicals however advocate for further losses in GBP/EUR.

The Pound-to-Euro rate is trading at around 1.1230 at the start of the new week, about half a percent lower than the previous week’s close. Studies of the charts suggest the exchange rate is set to continue its downtrend in the days ahead.

The British Pound remains caught in a downtrend against the Euro, and based on technical studies and the overarching political backdrop, we would expect downside pressures to remain in charge for the forseeable future.

The Pound heads higher against the Euro at the start of the week in a rebound which could extend over coming days with EU election results suggesting there has been no political earthquake in Europe.

From a technical perspective, the British Pound is in an established downtrend against the Euro which is expected to extend, but oversold conditions make us wary of a bounce.

The Pound-to-Euro rate entered the new week trading around 1.1571 at the start of the new week after closing a full one and a half percent lower than a week ago.