The GBP/EUR pair is showing signs it could changing its primary trend, anbd beginning a bearish cycle.
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At the beginning of this week, the EUR showed some retreat from its ECB highs following German industrial production reading that was lower than expected, but it had risen since.
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The euro’s recent period of strength against the pound sterling cannot last indefinitely it is argued.
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Downside pressure on the euro could be making a return following the relief seen towards the close of the previous week.
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Any strength in the British pound should be sold says one prominent currency strategist we follow.
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The GBP to EUR has halted its early December declines as markets take cash off the table ahead of what promises to be a volatile period of trade in global FX.
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Those with outstanding and imminent pound / euro payments should ensure their currency specialist is prepared for heightened volatility.
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