Week Ahead Pound-to-Euro Exchange Rate

The Pound-to-Euro exchange rate may have set itself up for a period of range-trading after its strongest weekly performance since March put the multi-month downtrend in danger, with Sterling having declined an invitation to return toward earlier lows. 

The Pound-to-Euro exchange rate decline appeared to peter out toward the weekend although the coming days could afford Sterling an upward correction if the rise in non-U.S. coronavirus cases is sufficient to compel a rebound in the U.S. Dollar, which hit near-two year lows last week. 

The Pound-to-Euro rate slumped last week as Sterling underperformed but it could be liable for further declines in the coming days because the technical backdrop on the charts has deteriorated and bearish sentiment is beginning to build around the British currency, leaving it in need of progress in the Brexit talks. 

The Pound-to-Euro exchange rate has corrected higher in July and coming week will determine if this move is simply a rebound from oversold levels or the beginning of a more protracted turn higher that endures for longer. 

The Pound-to-Euro exchange rate recovered sharply from near three-month lows last week and with the charts warning of a correction higher, it could look to stabilise over the coming days, although there are a number of potential pitfalls in the road ahead.

The Pound-to-Euro rate saw out a third week of declines Friday but risks further undperformance ahead as Brexit talks renew in a market that may be increasingly inhospitable for risk currencies. 

The Pound ceded ground to all major rivals last week but has been left resting on a major technical support level that could break its fall against the Euro over the coming days, although Sterling still risks underperformance more generally. 

The Pound-to-Euro rate returned to June lows last week but is tipped by multiple analysts remain under pressure in what ocould be a volatile week for both Sterling and the single currency. 

The technical outlook for Sterling has improved but much will depend on the outcome of cross-party Brexit talks due to conclude this week.

The British Pound is poised to move lower against the Euro over coming days, but momentum is expected to be weak and therefore any losses would likely be shallow. We will be watching the Bank of England interest rate decision and inflation forecast due out on Thursday for guidance.

The British Pound is flat at the start of the new week but political intrigue in Westminister is expected to start building as MPs return from their Easter break.

Week ahead forecast for Pound Sterling against the Euro suggests upside impetus is fading while attention will turn back to the state of the UK and Eurozone economies as Brexit headlines fade.

A pivotal week for the British Pound lies ahead with the EU due to decide whether to offer the UK a long Brexit extension while an unlikely cross-party Brexit deal between the Labour and Conservative parties could finally put an end to a period of chronic uncertainty.

The Pound-to-Euro rate is set to begin trading at 1.1617 Sunday after having fallen around half a percent in the previous week, although the pair remains above its long-term range ceiling and studies of the charts suggest renewed gains this week cannot be ruled out. 

The Pound-to-Euro rate is set to beging trading around 1.1672 Sunday after closing the previous week around half a percent lower, although technical studies of the charts suggest the market still has a bullish bias and that the exchange rate could rise in the days ahead. 

The Pound-to-Euro rate is to begin trading around 1.1737 on Sunday after having risen 1.3% in the previous week, although technical signals coming from the charts suggest the exchange rate can rise further during the coming days.

Our technical studies suggest the Pound could come under further pressure against the Euro in the short-term; while the tenor on Sterling has deteriorated from a technical perspective over recent days readers should expect significant volatility to buck the currency over coming days as the House of Commons votes on the EU-UK Brexit deal.

Technical conditions continue to favour Pound Sterling over the Euro and we could see gains in GBP/EUR extend after the pullback seen towards the end of the previous week. However, we are wary that Prime Minister Theresa May could bring the second meaningful vote on Brexit to parliament this week.

Technical studies are broadly in favour of further advances in Pound Sterling over coming days, however a potentially significant week of parliamentary votes could well trigger sizeable and unforseen moves in the UK currency.

The short-term technical outlook for the Pound-to-Euro exchange rate is improving, while weekend comments from French President Macron suggesting the EU should give the UK legally-binding pledges over the question of the Irish backstop will likely generate early interest amongst traders.