Pound / Euro Nudges New Highs, UK to Drop Remaining Covid Restrictions

We are seeing the limits of Pound Sterling's advance against the Euro, according to a strategist at Société Génénerale.

EUR/USD gunning for 1.15 in range breakout, profit-taking & stock market lag weigh on USD.

Goldman Sachs have raised their forecasts for the British Pound against the Euro following a strong start to 2022 for the UK currency.

GBP/EUR could attempt a recovery of 1.2000 but is facing resistance at 1.1998, 1.2015 & 1.2051.

GBP/EUR looking to hold above 1.1950, with supports near 1.1954, 1.1920, 1.1864.

Pound Sterling has already breached Credit Suisse's forecast target against the Euro, leading the Swiss bank to raise a new target and affirm their bullish stance on the UK currency against its continental rival in 2022.