The cyclical GBP has extended its strong performance on the strong UK vaccination process and higher growth expectations which makes economists at Danske Bank forecast the EUR/GBP pair at 0.83 in 6-to-12 months. Key quotes “The UK is gradually reopening supported by fast vaccinations, which, combined with businesses getting used to the new EU-UK trading relationship, means that the outlook for the UK economy looks much brighter. We expect the UK economy will outperform the euro area this year, which supports our view of a lower EUR/GBP.” “Eventually, the BoE is likely to tighten monetary policy earlier than the ECB, which marginally supports a lower EUR/GBP.” “We expect GBP can strengthen further this year but we also recognise that it has come a long way with a lot of positivity already priced in. “We will not be surprised if GBP takes a breather near-term fluctuating within the 0.85-0.865 range.” “We have our 1-3M forecast for EUR/GBP at 0.85. We expect EUR/GBP to move lower again and forecast 0.83 in 6-12M.” 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 Palladium peaks at 2758 and looks likely to consolidate recent gains – Commerzbank FX Street 8 months The cyclical GBP has extended its strong performance on the strong UK vaccination process and higher growth expectations which makes economists at Danske Bank forecast the EUR/GBP pair at 0.83 in 6-to-12 months. Key quotes "The UK is gradually reopening supported by fast vaccinations, which, combined with businesses getting used to the new EU-UK trading relationship, means that the outlook for the UK economy looks much brighter. We expect the UK economy will outperform the euro area this year, which supports our view of a lower EUR/GBP." "Eventually, the BoE is likely to tighten monetary policy earlier than the… Top 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.
