The euro has suffered a setback against the pound sterling on Friday having run out of steam after encountering strong resistance.
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The euro rate complex is today seeing selling pressure as yesterday's post-ECB boost proves to be fleeting.
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The British pound has seen heightened pressures against the euro on Thursday with the near term outlook turning increasingly bearish.
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The euro rate has today come under selling pressure in the wake of today's ECB decision and the outlook has turned bearish in the short term.
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The pound euro exchange rate is sharply lower, alongside the rest of the British pound complex, following the release of below-expected Services PMI data.
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The pound euro exchange rate is under pressure on Monday the 3rd of February with the latest exchange rate forecasts suggesting support could lie at 1.2.
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The euro came under renewed pressure in morning European trade today after inflation data from the Eurozone showed further disinflationary pressure in the region.
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