The failure of GBP/EUR to capitalise on the gift granted by the Bank of England suggests that from a technical perspective this is a very sticky market. We will be watching the European summit this week for headlines that might impact both the Euro and Pound.
Pound Sterling will likely remain on the offensive against the Euro in the coming week according to a recent technical analysis while the Bank of England and European Central Bank will form the fundamental focus for the two currencies.
Technical studies confirm this market continues trading within an ever decreasing band in the 1.13s and 1.14s. But, this week big moves could occur on the back of the ECB event and a slew of big-hitting UK data releases.
The week ahead for GBP/EUR, including forecasts, analysts views, technical analysis and outlook for the economic calendar.
The week ahead for GBP/EUR, including forecasts, analysts' views, technical analysis and outlook for the economic calendar.
Based on the look-and-feel of the charts that the exchange rate is moving towards the bottom of this longer-term channel, but much will depend on the outcome of this week's release of UK employment and wage numbers.
Financial markets are reopening to a significant new week, especially for the Pound, as the Bank of England meets to set interest rates.
Disappointment with the economy's rate of growth impacted negatively on Sterling in the week before.
GBP/EUR is falling back into the middle of the range as a result of growth qualms as the new trading week begins.
The GBP/EUR pair surged higher last week, breaking well above the key 1.1500 level and reaching a peak of 1.1590, the question now is, will the uptrend continue in the week ahead?
The Pound has shrugged off recent bad news and as the new trading week beginscontinues to push up towards the glass ceiling of its range against the Euro at 1.15.
The Pound-to-Euro rate continues to trade within a tight sideways range as it has done for the past six-months.
The Pound-to-Euro rate peaked at 1.1525 last week after a combination of easing Brexit fears and continued expectations that the Bank of England (BOE) will raise interest rates drove Sterling higher.
GBP/EUR is currently trending back up to the 1.1500 range highs as the new trading week begins.
The Pound-to-Euro exchange rate is seen bouncing off the bottom of a long-term range at the start of the new trading week.
Eurozone political risk and a monetary update from the central bank are likely to dominate the outlook for the pair in the coming week.
The GBP/EUR exchange rate extends its sideways trend and for another week, although risks remain to the upside.
The exchange rate continues oscillating within a relatively well-defined range as we enter another week's trading.
With the exchange rate approaching equilibrium again next week's Bank of England meeting on Thursday stands out as a potential source of volatility.
Page 5 of 6