The British Pound has lost value against all its G10 peers over the past month with losses accelerating in the previous week, but our five-day forecast suggests some of those losses can be unwound.
The Pound could be approaching attractive levels for buyers according to a new analysis that follows another sharp decline in the currency, this time in response to the Bank of England's decision to hold interest rates unchanged at 5.25%.
The British Pound has fallen as the market scales back its expectations for another Bank of England interest rate hike tomorrow, but given the scale of recent declines, the odds of a rebound are growing.
GBPEUR continues to respect a well-understood range, but the downside boundary is coming back into focus.
Pound Sterling recovered earlier losses against the Euro after market participants sniffed a European Central Bank interest rate cut on the horizon.
The Euro fell against the British Pound, U.S. Dollar and the majority of major currencies after the European Central Bank (ECB) raised interest rates but signalled it had reached the end of the hiking cycle.
Pound Sterling is struggling to stay above a key technical level against the Euro and risks slipping into a downtrend just as a key European Central Bank interest rate decision comes into view.
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