EUR/GBP - page 15
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Euro To Pound Forecast - Weaker German Business Confidence Extends EUR/GBP Exchange Rate Fall
Another day of losses was seen for the Euro to Pound exchange rate after German Business Confidence data fell short of market estimates, leaving the pairing close to 0.85 by the end of Wednesday.
Market reaction to the Supreme Court’s ruling on Article 50 saw the Pound Euro (GBP EUR) exchange rate slump sharply, weighed down by concerns over the possibility of a second Scottish referendum thanks to comments regarding the role of the devolved assemblies.
GBP EUR Exchange Rate Receives Timely Boost After Brexit White Paper Promise
However, as Theresa May later pledged to publish a white paper outlining the government’s plans for Brexit the Pound was able to recover some its lost ground during Wednesday’s European trading session.
The prospect of greater parliamentary scrutiny of the government’s aims could continue to offer Sterling upside support, raising hopes that a harder form of Brexit might be averted.
read more
I have a short-term long position but the pair is very bearish still.
Euro To Pound Outlook - UK GDP Above BoE Estimate Sending EUR/GBP Exchange Rate Lower
After the much-anticipated UK GDP release, the Euro to Pound exchange rate edged lower to trade around 0.85079 at Thursday lunchtime, still under pressure despite an increase in German consumer confidence.
The appeal of the Pound was boosted on Thursday morning by a steady rate of UK economic growth, even though activity remained almost entirely dependent on the service sector.
Yesterday's German Business Confidence data fell short of market estimates, leaving the pairing close to 0.84 on Thursday morning.
Market reaction to the Supreme Court’s ruling on Article 50 saw the pound wobble, weighed down by concerns over the possibility of a second Scottish referendum thanks to comments regarding the role of the devolved assemblies.
How far can this sterling rally extend? Lloyds warn clients that we are nearing top-in-range for the pound:
"Sterling continues to surprise the market with its resilience, coming back strongly since its lows set in Asia on Sunday 16th January, but we are starting to approach the other side of the current ranges in terms of GBPUSD and EURGBP"
GBP EUR Exchange Rate Receives Timely Boost After Brexit White Paper Promise
However, as Theresa May later pledged to publish a white paper outlining the government’s plans for Brexit the Pound was able to recover some its lost ground during Wednesday’s European trading session.
The prospect of greater parliamentary scrutiny of the government’s aims could continue to offer Sterling upside support, raising hopes that a harder form of Brexit might be averted.
read more
The EURGBP came very close to its 200 day EMA, around the 0.8454 level, but goes back up to its daily opening level, without taking a clear direction for today.
Lloyds Pound To Euro Outlook: Upside Limited In GBP/USD Exchange Rate Bullishness
EUR GBP Exchange Rate: Lloyds’ Long-Term Outlook
If that near-term outlook on the pound seems downbeat, that’s not a jot on Lloyds’ longer-term outlook.
The bank says that they not only see a risk of a re-test of October’s highs in the EUR GBP exchange rate (highs at 0.92), but they also “Couldn’t rule out a move to the highs set back in December 2008.”
The 2008 highs referred to are at 0.98, representing a further 15% depreciation in the pound’s value versus the single currency – a move which, in total, would mark a near 30% depreciation in the pound against the euro since June 23rd of last year (one day before the EU referendum).
The bank does note, however, that their long-term view may change should the pair fall beneath 0.8300-0.8250 in the interim.
British Pound to Euro Exchange Rate Week Ahead: Super-Thursday Dominates as Technicals Paint a Mixed Picture
Pound Sterling has risen for two weeks on the trot against the Euro, but as we sit on the cusp of a new week we are seeing mixed signals regarding the near-term outlook.
Having risen through the week, Friday 27 January saw GBP/EUR pull back from a test of the 1.18 area to fall to 1/1730 - this decline ruins what was quite a clean bullish prognosis for the exchange rate.
Indeed, the short-term uptrend remains bullish and a break above the 1.1805 highs would see that trend confirmed and likely extended to the next round number at 1.1900.
However, the exchange rate appears to have formed a bearish pennant which strongly suggests another leg down, with an expected end-target at 1.1640.
read more
UK Pound to Euro Exchange Rate's 5-Day Forecast: Super-Thursday Key Risk as Technicals Remain Bullish
It has been a positive start to the new week for Pound Sterling which has extended gains to trades at 1.1766 in the afternoon session of Monday, January 30.
GBP has risen for two weeks on the trot against the Euro, but as we sit on the cusp of a new week we are seeing mixed signals regarding the near-term outlook.
The short-term uptrend remains bullish but we believe only a break above the 1.1805 highs would see that trend confirmed and likely extended to the next round number at 1.1900.
So keep an eye on this important level going forward.
We are not all-out bullish on the pair as having risen through the course of the previous week, Friday 27 January saw GBP/EUR pull back from a test of the 1.18 area to fall to 1.1730.
This decline ruins what was quite a clean bullish prognosis for the exchange rate.
The exchange rate appears to have formed a bearish pennant as a result which strongly suggests another leg down, with an expected end-target at 1.1640.
read more
I have a long, TP is at 0.8620.