The pound euro exchange rate continues to be hit by selling pressure the second it hits fresh highs it seems. However, sterling bulls should not lose hope suggests one forecaster.
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The euro dollar exchange rate (EUR-USD) is nudging back towards the upper end of the recent trading range but without much of a strong sense of conviction.
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The euro exchange rate complex continues to find support as investors continue to pump money into the Eurozone whose equities are considered both cheap and safe relative to other areas in the world…
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While the pound sterling is forecasted to outperform the euro in 2014 we note that the short-term technical outlook has swung in favour of the shared currency on Tuesday morning.
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Analysts at Barclays have confirmed they expect the pound euro exchange rate (GBP/EUR) to grind higher through the course of 2014.
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The forecast for the euro pound exchange rate remains negatively aligned, however the possibility of a corrective rally higher should not be ruled out.
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Euro rates are today trading firm on Monday morning with technical predictions advocating for positive to mixed trading in coming sessions.
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