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GBP/EUR has pulled back and looks quite evenly balanced from a technical perspective.

The Euro could soon rise against the Pound argue analysts at a leading Scandanavian research house who believe a fresh bout of uncertainty will hurt Sterling.

Since an initial leap higher, the conversion has been consolidating in a narrow range which has formed into what looks like a chart pattern called a pennant, as in the triangular flags which flew from medieval castle tops.

Don’t sleep through the European Central Bank’s key policy meeting today we are told.

The Pound rebounded strongly after Theresa May’s speech mentioned the involvement of Parliament in the process of Brexit.

The British Pound was on offer at the start of the new week as the hard-Brexit story continues to be digested by foreign exchange markets.

David Sneddon, Managing Director of Global Strategy Technical Analysis at Credit Suisse gives his latest projections for the Pound to Euro exchange rate.

Lloyds Bank hold a relatively stable forecast for the GBP/EUR exchange rate through the course of 2017, but the level of uncertainty surrounding the UK currency makes for some heavy volatility.

The one thing most analysts are in agreement with is that the US Dollar is likely to strengthen further in 2017.

There is a heightened probability that Pound Sterling will slip even lower against the Euro in the near-term having broken a key support level.

Pound Sterling Live have looked at the monthly and weekly charts for GBP/EUR to get a better understanding of how the year may play out from a technical perspective.

Foreign exchange strategists at J.P. Morgan have upgraded their GBP/EUR forecast for the first half of 2017 but kept their sub-1.10 forecast for year-end in tact.

The lock-step moves between the Dollar and Pound have meant both have fallen back against the Euro in the wake of the US employment release.

“The Pound looks cheap at current levels.”

Foreign exchange forecasts for 2017 at ING confirm Pound Sterling is looking expensive at current levels.