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GBP/EUR lost a substantial amount of ground last week and its likely to continue after breaking below a key trendline on the daily chart.

Commerzbank have updated clients with their latest set of foreign exchange forecasts for the period 2017 through to 2018.

The GBP/EUR exchange rate starts the new month in the early 1.17s having risen from an open at 1.1653 in February.

Analysts at British high-street lender Lloyds Bank are sticking to their guns when it comes to forecasting a firmer Pound Sterling in 2017.

Foreign exchange strategists at Barclays have written to clients telling them they are anticipating a decline in the EUR/USD exchange rate over the duration of the week commencing February 27.

The GBP/EUR exchange rate's recent rally has failed at a key technical resistance level and the prospect for a deeper pullback now looks possible.

One of the world’s most prominent investment banks has confirmed to clients that they see value in betting on a rise in the Pound against the Euro.

EUR/USD surged unexpectedly higher on Thursday, reaching highs of 1.07 but then gave back most of its gains on Friday as it moved back down to the lower 1.06s .

GBP/EUR rolled over at the 1.1828 highs and formed a bearish Three Black Crows Japanese candlestick pattern, which consists of three down-days in a row.

The EUR/USD pair is pushing relentlessly lower.

 The GBP/EUR pair completed an a-b-c correction on the daily chart and has since started rising.

The Euro has fallen by nearly 5% against the US Dollar over the course of the past year but is too cheap and should ultimately start recovering.

The Dutch general election is fast approaching and is scheduled to take place on the 15th of March.

Deutsche Bank do not think the British Pound’s January rally is sustainable and have given clients five reasons for remaining bearish the currency.

 The Euro has been slowly tracking higher through January as Eurozone data shows modest step-by-step improvements.

GBP/EUR has pulled back after reaching 1.1800 highs and is currently trading at 1.1580.

The bullish signal on the monthly chart shows a higher-than-expected possibility of February ending higher than it opened – i.e being an up-month.

Pound Sterling has been the world’s most notable ‘political currency’ since the Brexit vote of June 23, 2016, but analysts tell us the Dollar could be about to adopt a similar label, and this has notable implications for the EUR/USD exchange rate's outlook.

It's been a decent enough start to the new for Pound Sterling as it rises to 1.1761 against the Euro having traded below 1.17 earlier in the day.