EUR/GBP: A Strategic Sell On Levels Above 0.90 Targeting 0.86 By Year-End – SEB

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Both the euro and the pound have been on the rise against the US dollar. How are they doing between them?

Here is their view, courtesy of eFXdata:

SEB Research discusses EUR/GBP outlook and adopts a strategic sell-on-rallies strategy on levels above 0.90 targeting 0.86 by year-end.

“The GBP is long-term undervalued against most currencies as Brexit uncertainty keeps the GBP under pressure. Negotiations about the final deal is likely to take two steps forward and one step back before a final deal is settled in Nov.

We still believe there eventually will be a deal as costs of failing are too high. Maintain some patience and buy the GBP vs the EUR on levels above 0.90 targeting 0.86 by the end of this year,” SEB advises.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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