The Pound-to-Euro Exchange Rate to Reverse some of its 2019 Gains this Week say RBC Capital

The British Pound is expected to reverse some of its recent "impressive performance" by foreign exchange strategists at global investment bank RBC Capital.

The technical outlook for the GBP/EUR exchange rate remains constructive in the shorter term and for Pound Sterling much will depend on parliament's ongoing crusade to prevent a 'no deal' Brexit from transpiring on March 29.

Technical studies suggest the upside case for the GBP/EUR exchange rate has strengthened, increasing the probability of an extension even higher.

The GBP/EUR exchange rate continues its ascent with the pair hitting a new 2019 high at 1.1307, which amounts to a 1.58% advance for the year.

Foreign exchange strategists with UniCredit are expecting Theresa May's Brexit deal to succeed in parliament on a second or third attempt, and this should spark a strong rally in Sterling against the Euro.

From a technical perspective Pound Sterling is positively aligned against the Euro, but we are wary of a notable spike in volatility over coming days as the EU-UK Brexit deal is put in front of the UK parliament.

Foreign exchange strategist Jordan Rochester with Nomura in London says he is a buyer of Sterling, saying the UK parliament will ultimately ensure the UK avoids a 'no deal' Brexit.

Foreign exchange strategists at Wall Street's Goldman Sachs say they are confident Pound Sterling will rise against the Euro over the next three months.