Analysts at Danske Bank expect EUR/GBP to trade slightly lower going into the Bank of England meeting, but given that the market almost fully discounts a rate hike, they expect any rally in the GBP to prove short-lived. Key Quotes “The GBP has been one of the weakest performing currencies in the G10 space over the past month, as political uncertainty related to Brexit has outweighed the growing prospect of a rate hike from the Bank of England in August.” “We could see a bit of a relief from the recent sell-off pressure in GBP from the political side after the UK Prime Minister yesterday relegated the Brexit department. However, overall we look for EUR/GBP to remain range bound near term, with Brexit uncertainty expected to remain a key source of volatility.” “Longer term, we still expect EUR/GBP eventually to trade lower driven by Brexit clarifications and fundamental valuations. We target EUR/GBP at 0.8650 in 3M, 0.8400 in 6M and 0.8300 in 12M.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR futures: consolidation poised to extend FX Street 5 years Analysts at Danske Bank expect EUR/GBP to trade slightly lower going into the Bank of England meeting, but given that the market almost fully discounts a rate hike, they expect any rally in the GBP to prove short-lived. Key Quotes "The GBP has been one of the weakest performing currencies in the G10 space over the past month, as political uncertainty related to Brexit has outweighed the growing prospect of a rate hike from the Bank of England in August." "We could see a bit of a relief from the recent sell-off pressure in GBP from the political side after… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
